Has cash become king for younger savers?

New research from TD Bank suggests that younger savers are not contributing to their Tax Free Savings Accounts (TFSAs) but are preferring to keep their savings in ready-to-spend cash accounts.

The research was covered in a recent report by Ari Rabinovitch of Global News.

As younger Canadians struggle with the heightened cost of living and a difficult job market, a new survey from TD Bank suggests Gen Z and millennials who use a tax-free savings account (TFSA) aren’t investing in that account because they want the money readily available,” he writes.

The unemployment rate for younger Canadians, the article continues, is “more than double the national average according to recent Statistics Canada data.” Indeed, the article adds, youth unemployment was over 14 per cent as of October 2025.

Perhaps because of that, the article reports, “41 per cent of Gen Z and millennials who currently hold a TFSA are not investing inside of it, the TD research found.”

It’s not just the young who are keeping things in cash, the article continues.

“The survey also says 65 per cent of all Canadians hold a TFSA, but 39 per cent of them are not investing the money inside,” Rabinovitch notes.

“Introduced during the Great Recession, the TFSA was launched in 2009 and acted as a way to encourage Canadians to invest for retirement and other milestones,” the article explains.

“A TFSA acts as a tax shelter, allowing Canadians to put a certain amount of money into their account and, if they want, use that to invest in things like stocks, bonds, GICs and mutual funds,” the article adds.

You don’t pay taxes on dividends, interest, or capital gains inside a TFSA, the Global report adds, and in 2025 the annual contribution limit was $7,000.

The cost of living, the Global article tells us, was “the biggest concern for Canadians” ahead of the recent federal budget.

Recent polling done by Ipsos for Global “suggested 69 per cent of Canadians are `worried’ the government won’t do enough to help them in the years ahead. That number rose to more than 70 per cent among younger demographics,” the article states.

As well, the report concludes, “nearly half of respondents (46 per cent) to an Angus Reid survey conducted by Willful in October said they had to dip into their savings to keep up with daily expenses.”

Even if there’s not much left after the bills are paid, the Saskatchewan Pension Plan is a capable partner for long-term retirement savings.

You can contribute any amount you want, up to your personal registered retirement savings plan (RRSP) limit. You can make pre-authorized contributions from a bank account or credit card or set up SPP as a bill in your online banking and make contributions that way.

Your savings grow tax-free while they are in SPP – those taxes are deferred until you begin to withdraw your money as income in a post-work future. And your income options include a lifetime monthly annuity payment that never runs out, or the more flexible Variable Benefit.

Check out SPP today!

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What Golf Can Teach You About Financial Planning reveals links between fairways hit and dividends collected

You might not naturally see a connection between the game of golf and financial planning.

But Minaz H. Lalani, an actuary, investor and golfer does see a strong connection. That’s the focus of his clever, entertaining book entitled What Golf Can Teach You About Financial Planning.

He starts by noting that both golfers and investors assess their own strengths and weaknesses prior to teeing off – a “SWOT analysis, or evaluation of Strengths, Weaknesses, Opportunities and Threats,” before starting off a game or building a portfolio.

“Golf and finance both require mastery of timing, temperament, and terrain. A golfer must adjust to wind, slope and the pin’s position. An investor must respond to interest rates, inflation, and market sentiment. In both, content matters — and adaptability is not just a valuable skill but an essential one,” he writes.

Moments of pressure, he continues, can test golfers and investors.

“You are three holes from finishing your best round, and tension tightens your grip. You are approaching retirement, and a market downturn challenges your confidence,” he explains.

Whether you are protecting a lead or trying to catch up, you will need to make “decisions that align with your strengths and goals,” he writes.

“Are you a long hitter who takes bold shots? You might favour growth investing. Are you a precision player who avoids mistakes? You might prefer dividend stocks or bonds,” he continues.

To improve at either golf or finance, Lalani tells us, requires setting SMART goals – specific, measurable, achievable, realistic and time-bound.

In his example, John, age 45, has a 20 handicap and wants to get to 10. He also has limited retirement savings and mounting credit card debt. So a SMART approach to both objectives, writes Lalani, would be:

• Take one golf lesson per month
• Track stats on fairways hit, greens in regulation, and putts per round
• Practice three times a week focusing on weakness (short game).

For finance:

• Set a SMART goal to save $100,000 in five years
• Use an app to track spending
• Reallocate investments to low-fee exchange traded funds
• Pay down high interest debt first

The golf/finance parallels continue. Where golfers improve by using “a pre-shot routine to control nerves,” investors should “follow a regular review process for budgeting and investing.”

A bad hole – a double bogey – “is just one hole, learn and move on,” similarly, “a bad investment does not define your plan; assess and adjust without self-blame,” he writes.

Later, he notes that key golf attributes – grip, posture and swing path – have financial cousins. “Savings are your grip – your control over future options,” he notes. “Budgeting is posture, your ability to stand balanced against monthly pressures. Net worth is the swing path – a reflection of your long-term form and rhythm.”

Just as golfer take note of the numbers of fairways they hit, greens reached in regulation, and penalty strokes, investors should conduct regular “round reviews” of their finances.

“Did I save or invest at least 15 to 20 per cent of my income? Did I stay within budget this month? Did I pay down any debt? Did I review my portfolio performance? Did I avoid emotional spending or rash investment decisions? Am I closer to my key goal than I was 30 days ago,” he writes.

Just as Jack Nicklaus used to “visualize” every shot before swinging his club, we can all try to use the same approach with our finances, writes Lalani.

“What does financial success look like for you? Is it living mortgage-free? Retiring early? Supporting your children’s education?” he explains.

Take note, Lalani adds, of your “qualitative” success.

Recovering well after a bad hole, or maintaining your composure, are examples of experience that matter, he writes. In finance, “a six-figure income does not mean financial health if you are drowning in debt. A modest salary can still lead to financial peace if you manage it wisely.”

It’s a long game, he concludes.

“You do not fix your whole game in one round,” he explains. “You keep swinging, reflecting, and adjusting.”

This was a very entertaining read, and we plan to make a gift of the book to a long-hitting friend who is all-in on tech stocks, just to show that maybe there’s more than one club in the investment bag!

The Saskatchewan Pension Plan is a great savings partner. SPP is open to all Canadians with registered retirement savings plan room.

Have you got a bunch of small RRSPs sitting around? SPP members can consolidate their savings nest egg by transferring in RRSP funds (the RRSP can’t be locked-in) into SPP. Our team will then grow that enlarged nest egg by professionally investing your savings in a low-cost, pooled fund.

When it’s time to turn savings into income, SPP options include cash for life via a monthly lifetime annuity payment, or the more flexible Variable Benefit.

Check out SPP today!

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Paper suggests employers should help workers build emergency savings

Should employer help their employees save up for emergencies?

An article by Bianca Thompson in The Globe and Mail reports on a recent report that suggests just such a cooperative approach.

“A recent report from the Financial Wellness Lab at Western University is calling on companies to help Canadians contribute to emergency savings accounts,” she writes.

“Researchers at the lab say many Canadians are living paycheque to paycheque, with little to fall back on when unexpected expenses hit. The white paper found that more than 60 per cent of working-age Canadians couldn’t cover a $1,000 emergency without borrowing or going into debt,” the article continues.

A possible solution, the article continues, would be “employer-sponsored emergency savings programs,” or ESAs.

With such a program, the report notes, “contributions to ESAs would be automatically deducted from an employee’s pay, much as they are with workplace pension plans. The money would be set aside in small amounts from each paycheque to cover short-term emergencies.”

The white paper envisions a “two-tier” approach for the ESAs. There would be a “rainy day fund” for “small, unexpected expenses” as well as a “larger emergency fund for major financial shocks, such as a job loss or large-scale home repairs.”

“Cash coming in does not always match cash going out, and we need a safety net,” states Chuck Grace, co-founder of Canada’s Financial Wellness Lab, in the Globe article. “When employees are less distracted by financial stress, they are healthier, more focused and more productive, which benefits employers as well,” he tells the Globe.

Interestingly, a couple of firms are already trying this idea out, the article reports.

Ontario’s Mainstreet Credit Union, the article notes, recently rolled an ESA program out to all staff. CI Financial contributed to the white paper, and CI’s Kambiz Vatan-Abadi tells the Globe that an ESA can be a “`win-win solution’ that supports employees’ financial stability while benefiting employers in the process.”

“Employers who are financially healthy and resilient perform better at work,” he tells the Globe.

The article points out, citing figures from The National Payroll Institute’s 2025 Annual Survey of Working Canadians, that “financial stress costs Canadian businesses nearly $70-billion a year in lost productivity.”

ESAs are common in the U.S. and “gaining traction” in the U.K., but are few are far between in Canada so far, the article reports.

The article suggests “auto-enrollment” as a way to get people into such programs. This means you are automatically enrolled unless you choose to opt out.

“A British study found that less than one per cent of workers opted in when they had to self-enroll, but participation jumped to 50 per cent once enrolment was automatic,” the article notes.

It will be interesting to see if this idea gains traction here in Canada.

Did you know that the average Canada Pension Plan payment in 2025 is, according to the federal government’s figures just $848.37 per month? And the Old Age Security adds – on average – a maximum of $740.09?

If you aren’t supplementing these modest amounts with your own savings, or via a retirement program at work, it might be prudent to begin putting money away for your retired life now.

A fine partner in this effort is the Saskatchewan Pension Plan. With SPP, you can make annual contributions of any amount, up to a maximum of your personal registered retirement savings plan (RRSP) limit. You can also transfer any amount into SPP from non-locked-in RRSPs you may have.

SPP then does the heavy lifting – investing those savings in a low-cost, professionally managed, pooled fund. When it’s time to retire, your choices include receiving a monthly annuity payment for life, or the more flexible Variable Benefit.

Check out SPP today!

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Inspiring stories tell how people got out of debt jail

Debt is a twin-natured beast. It can be used for good – to pay for a house, car, or investment you don’t have the cash to afford. It can lead to bad times when you over-rely on credit cards and lines and can barely keep up with the minimum payments.

So it’s always great to hear about a friend or family member who has stared down the beast and turned things around. Save with SPP beat the bushes for some success stories about debt reduction – folks who got their act together and slayed the beast of indebtedness.

The Making Sense of Cents blog recounts the story of Amanda, who was able to pay off $133,763 of debt in 43 months.

How, we all ask? Let’s read on.

After piling up student loans and getting behind on payments for a new car, then getting married, Amanda and her husband Dave had over $133,000 of debt.

They got rid of the new car for a second-hand one, saving on loan payments, and then went to a “zero-based budget.” They used the “cash envelope” strategy (popularized in Canada by Gail vaz-Oxlade), putting physical money in envelopes and earmarking it for specific expenses. When the money is gone from the envelope, you don’t spend any more on that category.

They “both worked to increase our income” while not increasing their lifestyle. “After three years and seven months of hard work, we were debt-free.”

So – less loans, a strict budget, earning more but spending the same.

At the Jackie Beck blog we learn how Kaysha, “newly engaged,” managed to get rid of $43,000 of debt in two years.

“She took a three-pronged approach to it: cutting back, getting support, and making more money,” the blog explains.

“Kaysha switched jobs and got promotions — doubling her income over two years — and kept her budget the same. When she got a bonus at work, she didn’t spend a single penny of it. All that went toward debt. She also did tons of random things to make extra money on the side. (At one point, she made money sampling ice cream!) During all this, she and her boyfriend also cash flowed their wedding,” the blog reports. The term “cash flowing” refers to not having to borrow money or use credit to pay for something.

So – spending a bonus on debt, side hustles, and again, the flat budget.

Next, let’s hear about Mel, who’s debt-defeating testimonial appears on the Growing Slower website.

Despite going from a two adult, two income home to a home with three people and one income, Mel and her family paid off $25,000 in six months.

They “made sure to assess every single purchase” along the way, and found these ideas helped:

• Meatless meals
• No spend challenges
• Selling things on social media sites
• Having yard sales

“Getting out of debt was a challenge, but Mel wants others to know that you can do it! The feeling of freedom, new opportunities, and big dreams that will open up to you is so amazing!,” the blog concludes.

So – shopping smart for groceries, employing fun challenges, and turning clutter into cash.

In our personal experience, the use of bonuses to fight debt and the idea of keeping the budget flat when your pay increases are very valuable tools. We decided to make getting rid of the mortgage our number one priority, and when that happened, taking care of other debts via the “snowball method” worked. We paid off our lowest debt, then put that money on the next-lowest, and continued that way.

If you can avoid having debt when you are retired and earning less money, your future you will thank you.

You’ll also receive thanks if you are able to bolster the modest government retirement benefits you’ll receive with personal savings. If you are saving on your own for retirement, the Saskatchewan Pension Plan may be just the ticket for you.

You decide how much to contribute, or transfer in from registered retirement savings plans you may have. SPP does the rest, investing your savings in a professionally managed, low-cost pooled fund.

When it’s time to log off for good, your SPP income options include a monthly annuity payment for life, or the more flexible Variable Benefit.

Check out SPP today!

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Hey Boomer! How do your retirement savings stack up against the average?

When we’re out on the golf course next spring, our watch tells us how we’re doing – how far we’ve got to go to the green, how far we’ve come from the tee, and whether this Tuesday’s score will be among our best or worst.

But, reports Vishesh Raisinghani, writing for Money Canada, there is no such smart watch or scorecard to tell us how our savings efforts stack up against those of others in our age bracket.

Let’s take boomers, the article begins.

“With the youngest baby boomers now aged 61, much of this generation is already retired or nearing retirement,” Money Canada reports. “However, data shows many have inadequate savings and, as a result, may struggle to maintain their standard of living. In fact, some boomers have saved so little that younger Canadians could surpass their savings benchmark with just a few years of disciplined saving and investing,” the article adds.

Boomers, the article continues, have saved, on average, $756,497 for retirement according to Statistics Canada. “Many also hold other assets such as GICs, stocks, mutual funds and real estate. This put the average net worth of households for those aged 65 and above at just over $5.5 million,” the article notes.

That sounds pretty good, right?

“This financial sum might look good at first, but it could fall short of recommended retirement benchmarks. After all, your net worth can include big-ticket assets like your home,” the article warns.

“Most Canadians believe they will need $1.54 million to retire comfortably, according to survey data from BMO, and many are finding that their savings fall short, especially if they want to maintain their current quality of life,” the article adds.

There is a target to aim for, Money Canada reports, and that is to have savings that produce income equal to about 70 per cent of what you make at work.

“With the average annual income for Canadians aged 55 to 59 at $42,800, the target is to save enough to earn approximately $29,960 per year (from interest, capital appreciation and dividend earnings),” writes Raisinghani.

“Assuming a retirement age of 65 and average life expectancy, men should look to save at least $419,440 and women to save at least $539,280 to generate close to $30K per year in retirement income,” the article continues.

The dangers, the article notes, in not generating enough retirement income are several. A recent study from CPP Investments found that “61 per cent of Canadians are afraid of running out of money during retirement,” the article reports. And if your income from savings is low in retirement, “many boomers may be forced to take on debt, rely heavily on their Canada Pension Plan and Old Age Security, cut back their lifestyles or even return to work.”

What’s the solution?

“Whatever your personal `magic number’ for retirement is, you can achieve it if you start early and stay consistent. Depending on how aggressively you save, you could be well on your way to being financially ahead of where the average boomer stands today,” the article concludes.

Many experts feel that making savings automatic – directly deposited from your bank account on payday before you can even think of spending it – is the “set it and forget it” approach to building savings.

Members of the Saskatchewan Pension Plan can automate their savings. You can make pre-authorized contributions from a bank account or credit card, building your nest egg steadily and without having to think about it.

SPP takes those contributions and grows them in our professionally managed, low-cost pooled fund. And when it’s time to turn savings into income, your options include a monthly lifetime annuity payment – income that never runs out – or the more flexible Variable Benefit.

Check out SPP today!

Join the Wealthcare Revolution – follow SPP on Facebook!

Ways to put an end to procrastinating – and getting things done

Where there’s a will, there’s a way, they say.

However, procrastination – putting things off until later – seems to get in the way of getting things done. A recent article by Preet Banerjea of The Globe and Mail suggests that financial procrastination “is like paying another tax,” because you are enjoying fun things in the now instead of saving for the future.

Save with SPP decided to scout around the Interweb to see how others have liberated themselves from the clutches of procrastination.

The writers at Psychology Today offer up a few tips.

First, they suggest, why not break the task up into little bite-sized pieces?

“When you break a task into smaller steps, it becomes much more manageable, and taking the first step can build momentum,” the article explains.

“For example, if you’re avoiding cleaning your garage, don’t aim to finish it in one day. Instead, focus on sorting just one corner or organizing a single shelf,” the article adds.

Another trick is to “tackle your most dreaded task first,” the magazine notes. “Say you need to call customer service to resolve a complex billing issue. This kind of task can feel exhausting before you even begin. However, if you do it first thing in the morning, you’ll free up mental space to handle the rest of your day more smoothly,” the article recommends.

An interesting one is the Two-Minute Rule, the magazine continues.

“Popularized by productivity expert David Allen, the Two-Minute Rule suggests that if a task can be done in two minutes or less, do it immediately.This rule helps eliminate small tasks that pile up,” and can feel overwhelming, the magazine notes.

The Coursera website provides a few more ideas.

Got a to-do list? Trim it down, the site suggests.

“If you begin to work with a to-do list, it’s crucial to trim where you can. There are only so many hours in the day, and if you find yourself with long lists, then some things will have to be shifted around—or dropped altogether. For starters, go through and remove anything that doesn’t need to be done that day or that week,” the site tells us.

Next, Coursera suggests, you should minimize distractions.

“Turn off your phone, stay away from social media, and make sure you’re setting yourself up to stay on-task rather than deviating to something new,” the site notes.

Be sure, the site adds, to reward yourself for completing a task.

“You can use… personal rewards as motivation, such as a break for a snack or an activity. Or, if you’re working on a more involved project, maybe your reward is something bigger, like a nice dinner when you turn in the finished product,” the site suggests.

A few more ideas come to us via the Calm blog.

Techniques “like mindful breathing and meditation” can help you manage stress and anxiety, which the blog suggest fuel procrastination.

Consider, the blog advises, getting an “accountability buddy” to help you keep yourself on track.

“Don’t hesitate to ask friends, family, or professionals to be your accountability buddy if procrastination significantly impacts your life. Getting this support and encouragement from other people may help you to stop procrastinating and can give you ideas or coping tools,” the blog notes.

Review your success with anti-procrastination tools and reflect on what worked and what didn’t, the blog concludes.

Is procrastination holding back your retirement savings efforts?

Start small, with an amount you won’t really miss, and then ramp up over time.

The Saskatchewan Pension Plan does not have a required contribution rate. That means you can decide how much you want to contribute. Contributions can be received in many ways, including through pre-authorized transfers from your bank account or credit card, or via online banking, where SPP can be set up as a bill.

No matter how your savings dollars travel to SPP, once here they are invested in a professionally managed, low-cost pooled fund. When the time comes to withdraw your contributions as income, options include a lifetime annuity or the more flexible Variable Benefit.

Check out SPP today!

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Are Canadians prepared for a retirement that could last for decades?

Writing for the Financial Post, Pamela Heaven asks if Canadian early retirees are prepared for a retirement that could span four decades.

“Instead of the 20 to 30 `golden years’ of earlier generations, workers today are potentially looking at retirements that span 40 years or more,” she writes.

Life expectancy, she notes, is driving these longer retirements.

“Canadians are also living longer. Since 2023, life expectancy in Canada has risen two years to 83, and since 2001 the number of people over 100 has doubled, said the study. Globally, the number of centenarians is expected to grow by 800 per cent by 2050,” she adds.

Yet, Heaven writes, those who are retiring early today may not always have chosen this longer path.

“Almost half of the retirees in a survey by Manulife Group Retirement this week stopped working earlier than they planned at an average age of 59 — and the bulk of these early retirements were for reasons beyond their control. Either they suffered a health issue, needed to care for a loved one or lost their job,” Heaven explains.

Alarmingly, the same Manulife study found that only “15 per cent retired early because they saved enough, which raises concerns about how prepared Canadians are for an increasingly lengthy retirement,” she continues.

Let’s unpack this – more of us are going to be retired for longer than we may have expected, and most of us haven’t saved enough for our golden decades.

And, Heaven points out, this is not the best time to be trying to save for retirement.

“Financial pressures on Canadians have escalated since the pandemic. The share of working Canadians who consider their financial situation fair or poor has risen from 33 per cent in 2020 to 41 per cent today, and those who consider their retirement savings behind schedule has jumped from 35 per cent in 2021 to 48 per cent,” she reports.

So there’s been a shift away from the idea of retiring at 55 to staying on at work a little longer, the article notes.

“The share of working Canadians who want to retire later has climbed from 26 per cent in 2020 to 35 per cent today, and in Manulife’s global study, 40 to 50 per cent of workers in all markets said they planned to work in retirement,” Heaven writes.

In practice, the article warns, citing wording from the Manulife research, working after retirement isn’t as common as one might expect.

“Unfortunately, the reality in North America is that only 16 per cent of retirees surveyed work full or part time,” Heaven writes, quoting from the study. “And retirees surveyed stopped working far earlier than they’d planned, mostly due to their own health challenges or to care for a loved one,” she adds, again citing findings from the research.

Another study finding – retirement can be expensive, and you can start going through your savings faster than expected.

“Plan ahead,” warned one Gen Xer in the Manulife study, the article notes. “It’s here before you know it.”

So, if retirement savings is not currently part of your budget, you will need to add it in, even if you have to start small.

If there’s any sort of retirement program where you work, be sure to sign up and start contributing as much as you can. If not, a great option is the Saskatchewan Pension Plan, open to any Canadian with registered retirement savings plan room.

You can make annual SPP contributions at any level you like up to your RRSP limit. If you have other RRSPs that aren’t locked in, you can transfer any or all of their balances into SPP to consolidate your nest egg. You can start small and ramp up as you earn more.

SPP does the heavy lifting of investing for you, growing your hard-saved dollars in our professionally managed, low-cost pooled fund.

When work is over, your SPP income options include a monthly annuity payment you’ll receive every month for as long as you live, or the more flexible Variable Benefit.

Check out SPP today!

Join the Wealthcare Revolution – follow SPP on Facebook!

As a new year – 2026 – begins, many of us make a commitment to do something fresh and new in honour of that milestone.

Maybe it’s shedding a few post-holiday pounds, or hitting the gym more often, or learning something new.

Save with SPP took a look around the Interweb to see what sorts of things people are resolving to do in 2026.

The folks at Reader’s Digest offer up a few interesting resolutions.

How about resolving “to learn a new word every month,” the publication suggests. “One word a day keeps the boredom away (at least to us!). By learning just one word each month, you’ll be building knowledge without feeling overwhelmed,” the publication suggests.

Another interesting one is “saying `no’ more often,” the magazine continues.

“Take the time to actually focus on protecting your time and emotional well-being. By setting boundaries and refusing energy-draining activities, you preserve space for what truly matters,” Reader’s Digest tells us.

Finally, the magazine suggests we all “write a thank-you note to someone from your past.”

“Have a teacher who introduced you to your career? A childhood friend who stood by you for years? A relative who was always there to listen? Get a nice card, write down your memories of how that person changed your life, thank them and send it off,” the magazine suggests. “They will treasure your `Happy New Year’ wishes, and you’ll benefit from remembering a positive moment in your life.”

So thanks to Miss Ramsay at J.S. Woodsworth Secondary School for convincing me that learning to type would be beneficial to my future career!

Let’s click over to the Girl With Dreams site for some additional resolution ideas.

“Take a break from social media,” the site suggests. For sure, less doomscrolling ought to be a stress-reducer!

“Rather than making resolutions, set goals,” the site continues. This might be saying “lose 10 pounds by July,” rather than “try to lose weight.”

“Keep a daily check on your bank account,” is the site’s final bit of advice. This is a solid tip – you will be keeping track of what you’re spending as you’re spending, so no surprises at month end.

The Making Sense of Cents blog has lots of additional ideas.

“Learn a new language,” the blog suggests. This can be “a fun and rewarding goal for 2026,” the blog adds.

Another idea is to “read one book a month,” the blog continues. “Reading a book each month… can help you learn new things and grow as a person. Set aside time each day for reading. Even 15 minutes before bed can help you reach your goal. You could also try audiobooks during your commute or while doing chores,” the blog adds.

Let’s finish off with some saving-focused resolutions from the gang at The Motley Fool.

The blog points out that while more than half of us make financial goals each New Year’s, “only two in five stick with it.”

The blog’s research finds that “paying off debt” is a top resolution. Next comes “saving for a significant financial milestone,” such as a car, a home, or a wedding. Third is “increasing income,” and fourth (our favourite) is “saving for retirement.”

Interestingly, the blog’s research finds that boomers and Gen Xers see retirement saving as a higher priority than Gen Z folks and millennials.

If saving for retirement is one of your 2026 priorities, be sure you are taking advantage of any retirement program that may exist in your workplace.

If you don’t have such a program, the Saskatchewan Pension Plan may be of interest. It’s open to individual savers, but many organizations have chosen SPP to be their company pension plan.

However the dollars arrive at SPP, our professional investors grow them in a low-cost, pooled fund. At retirement SPP options include a lifetime annuity payment each month, or the more flexible Variable Benefit.

Check out SPP today!

Join the Wealthcare Revolution – follow SPP on Facebook!

The case for “memory investing,” or making sure you enjoy the retirement money you’ve saved

Writing for Forbes magazine, financial planner Chad Waddoups of Mountain America Financial Services discusses the transition from saving to retirement to spending it (and enjoying it) after work is done.

“Many people are conditioned to save for retirement—maxing out (their) contributions, attending investment seminars and consulting financial advisors. But after a lifetime of disciplined saving, many retirees find themselves asking, `How do I transition from building wealth to actually using it for the experiences I’ve been deferring for decades?’ and `How do I shift from a scarcity mindset to an abundance mentality?,’” he writes.

A helpful tool, he continues, is the concept of “memory investing.”

This is “an approach that reframes retirement planning around meaningful experiences and improved relationships rather than just asset accumulation,” he explains.

A retirement savings goal should not be to “die rich,” he writes, but to “live fully while you can.” In other words, he points out, “once you reach your target number for financial security, it’s time to use that savings to enjoy your retirement.”

“As retirement approaches, the once-abstract idea of `someday’ becomes more real, and the fear of running out of money begins to compete with the fear of running out of time,” Waddoups notes. “If this is the case for you, it can be useful to recognize how the value of shared experiences and deepened relationships can exceed the security of unspent wealth.”

Waddoup recommends that some planning take place, in advance of creating memories, to make sure you have enough money saved to cover your basic expenses for the rest of your life. If you have more than enough money to do that, you can begin to think about how to spend this “surplus,” he explains.

If this calculation reveals that you are – while still working – saving too much for retirement, consider hiving off some of your saved money for a memory creation account, he suggests.

“For example, instead of contributing 15 per cent to your retirement account, contribute 10 per cent and use the other five per cent to save for a special family trip. Just be sure to make careful calculations to stay on track for your retirement goals,” he writes.

As a personal example, Waddoup decided he could re-direct some of his saved wealth towards a family trip to Alaska without impacting his retirement savings target.

Be sure, the article advises, to understand the possible tax consequences of withdrawing funds from a retirement account before cracking into the nest egg for a new family memory. But, the article concludes, don’t not save money for future memory creation.

“Memory investing isn’t about spending recklessly or abandoning financial responsibility—it’s about recognizing that the richest retirement isn’t measured only by the size of your portfolio, but also by the depth of your relationships and memories you created along the way,” his article notes.

The Saskatchewan Pension Plan has been helping Canadians save for retirement for more than 35 years.

The plan is open to any Canadian who has registered retirement savings plan (RRSP) room. You can contribute any amount you want, up to your RRSP limit, to SPP each year. You can also consolidate savings from other RRSPs into SPP by transferring in any amount.

Once your hard-saved loonies are in the plan, SPP does the heavy lifting of investing. SPP contributions are professionally invested in a low-cost, pooled fund. When it’s gold watch time, your SPP income options include the possibility of a lifetime monthly annuity payment, or the more flexible Variable Benefit.

Check out SPP today!

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While out driving the other day, we spotted a young lady waiting for the bus, decked out in wide-leg corduroy overalls and platform shoes. She could have been on her way to our high school – in 1974.

That made us wonder about things from the past that are coming back. Is this a thing? We took a look to see.

According to Grocery Coupon Guide, powdered milk – an old staple from the past – is in demand once again.

“Powdered milk is experiencing a surprising resurgence in 2025 as shoppers look for affordable, sustainable, and long-lasting alternatives to traditional dairy. Rising grocery prices, increased travel, and a growing interest in emergency preparedness have all contributed to its newfound popularity,” the publication reports.

The powdered variety of milk, the article suggests, “costs significantly less per serving than fresh milk and has a far longer shelf life.” While fresh milk last weeks, the article continues, the powdered variety can last for years.

Another thing we haven’t been hearing about for a long time – “buy now, pay later” appears to be in vogue in 2025, reports The Straits Times.

Even online shoppers, the article points out, are being given the option of paying for things in instalments. “The price of skincare products that would have cost $60 to $100 apiece upfront seemed quite reasonable after being split into smaller monthly instalments,” the article notes, adding “therein lies the appeal of buying now and paying later.”

We are old enough to remember when you could buy things on “layaway,” which basically meant you paid in instalments, and when you had paid in full, you got the item.

Another blast from the past that’s coming back, reports InStyle, are ripped jeans.

“Distressed jeans could be making a comeback in 2025 as we saw on the spring/summer runways, including Ralph Lauren,” fashion expert and stylist Naina Singla tells InStyle. “This time around, the look feels more effortless and intentional rather than overly ripped and casual,” she adds.

E! reports that wired headphones are popular again.

“Turns out, Gen Z’s latest trend isn’t about vintage jeans or claw clips: it’s wired headphones. The 2025 revival of Apple’s classic $17 EarPods proves that what’s old is new again,” the broadcaster reports. “With their clean white cords and nostalgic minimalist design, these throwback essentials are suddenly the hottest accessory of the year,” the article continues.

Will pet rocks, mood rings, lava lamps and velvet black light posters be next? Let’s hope not!

Trends may come and go, but the importance of saving for retirement seems to be a constant. If you have a workplace pension program, be sure to sign up and contribute as much as possible. If you don’t, and are having trouble figuring out how DIY retirement savings works, have a look at the Saskatchewan Pension Plan (www.saskpension.com).

SPP is a made-in-Saskatchewan retirement savings program that is open to any Canadian with registered retirement savings plan (RRSP) room. You decide how much to contribute – or to transfer in from other RRSPs you may have – and SPP does the rest. Our professional investors grow your savings in our low-cost, pooled fund.

When work is in the rearview mirror, you can turn those savings into income. Options include a monthly lifetime annuity payment or the more flexible Variable Benefit.

Check out SPP today!

Join the Wealthcare Revolution – follow SPP on Facebook!