■ Figure out how much you spend each month on groceries, accommodation, utilities, clothing, grooming, transportation, travel, gifts and charities and so forth. Add in a fraction of the bills for home repairs or new or newer cars and other large expenses. Will that spending be constant or change when you retire?
■ Compare your spending to anticipated cash flow from work before you retire and taxable investments, registered investments after retirement, tax-free savings accounts, company pensions, CPP/QPP and OAS.
■ Add up sources of extra money such as cashing in stocks or bonds, mutual funds, exchange-traded fund, etc. If these sources of liquidity may be insufficient, then consider establishing lines of credit where you have deposits, e.g., banks and credit unions.
■ If all of the money you have…
