You Might Be Richer Than You Think, But Can You Spend More in Retirement?
For many Canadians, retirement planning is driven by one powerful fear: "What if I run out of money?"
We spend decades working hard, saving diligently, making sacrifices, and following all the “right” financial advice, RRSPs, TFSAs, pensions, and budgeting. And for good reason. The idea of reaching retirement unprepared is terrifying.
But here’s the twist we’re seeing with so many Optiml users:
You may have saved more than enough, and yet, you’re still living like you haven’t.
The Retirement Planning Paradox
At Optiml, we see thousands of retirement scenarios run every month by Canadians just like you. A surprising and consistent pattern has emerged:
- Many users vastly under-spend in retirement.
- Their portfolios grow well into their 80s and 90s, often leaving estates worth millions.
- All while they’ve skipped experiences they could have comfortably afforded, trips, hobbies, upgrades, and even bucket list dreams.
This isn’t because they lack wealth. It’s because they lack confidence.
💡 The Cost of Playing It Too Safe
We get it. It feels uncomfortable to move from decades of saving to suddenly spending. That shift is hard psychologically and emotionally. You’ve spent a lifetime in “accumulation mode.” But eventually, the purpose of saving is to enjoy the life you worked so hard to build.
Not having enough is scary.
But the second-worst fear?
Realizing too late that you could have done more and didn’t.
📊 What the Data Tells Us
According to a 2023 report from FP Canada, 61% of retirees say they worry about outliving their money, despite most having sufficient (or even excess) savings.
Even more striking: a Vanguard study showed that nearly 30% of retirees die with more wealth than they had at retirement. That’s not a bad outcome, but it highlights how fear, rather than planning, often guides behavior.
🔍 Real-Life Optiml Users Are Seeing the Same Thing
We regularly hear from users shocked by what their numbers show:
- “I didn’t realize I could spend this much and still leave behind an estate.”
- “I’ve been living too conservatively, I thought I had less.”
- “This gave me the confidence to book that trip, finally.”
With Optiml’s Max Spend strategy, users can model a plan that safely maximizes their lifetime spending, ensuring they don’t leave enjoyment on the table. It’s not about reckless spending. It’s about finding that sweet spot between enjoying your money today and still leaving behind what matters tomorrow.
💬 The Mindset Shift: From Saving to Spending
Switching from a saving mentality to a spending one isn’t easy. But it’s essential.
Here’s the truth:
You don’t just need to know how much you have
You need to know how much you can use.
And even more importantly, you need to match that against your lifespan, your health, and your dreams. You only get one life. And it’s not just about reaching the finish line with the biggest number. It’s about living fully along the way.
✅ Retire with Confidence, Not Regret
With Optiml, you can run real numbers based on your accounts, your lifestyle, and your goals, not rules of thumb.
Build a Max Spend plan that shows:
- How much you can safely spend each year
- When and how to draw from RRSPs, TFSAs, pensions
- How much you’ll leave behind
- And how much more life you can live with confidence
Don’t spend your retirement worrying.
Spend it wisely.
Spend it confidently.
Spend it doing what you love, because you’ve earned it.
