What 500 Canadians Told Us About Retirement Planning in 2025

Canadians are thinking about retirement but not always feeling confident.

We recently surveyed over 500 Canadians to better understand how they’re approaching retirement planning. The results were eye‑opening: while many have made progress, most still feel a lack of clarity about whether they’re truly on the right track.

And in a year marked by inflation concerns, tax changes, and rising life expectancy, that clarity matters more than ever.

1. Most Canadians have started but still want more clarity

275 respondents said they’ve made progress but want clearer guidance.

Only 103 people feel fully confident in their plan.

Another 62 haven’t started but want to.

Takeaway: Starting isn’t the problem, knowing if you’re on the right track is. Most Canadians want confirmation that their plan will hold up.

2. The top goal? Minimizing taxes and maximizing long‑term value

168 people ranked tax efficiency as their #1 goal.

142 people want a clearer picture of where they stand.

Common questions included: “Am I withdrawing from the right accounts?” and “How do I make my savings last?”

Takeaway: Canadians aren’t just worried about if they can retire, they’re worried about how to do it without leaving money on the table.

3. DIY planning is popular but comes with uncertainty

354 respondents prefer to research and make their own decisions.

Only 8 people said they rely entirely on a financial advisor.

Takeaway: Canadians like control and flexibility, but many still want expert-level insights to validate their choices.

4. Finances are always on people’s minds

353 respondents said thinking about their finances is “always on my mind.”

Major triggers: market volatility, checking investments, or big life milestones like retirement or downsizing.

Takeaway: This constant background worry shows why clarity and stress-testing scenarios is so valuable.

5. Transitioning to retirement is the biggest next step

253 people said their next big goal is transitioning to retirement or part‑time work.

Travel and lifestyle upgrades were also popular: 85 respondents want to spend more on experiences.

Takeaway: Retirement isn’t just about stopping work, it’s about designing the next phase of life.

What this means for you

If you see yourself in these findings, wanting clarity, worrying about taxes, or feeling unsure about the “right” decisions, you’re not alone.

The good news? With the right tools, you can take control of your plan. Optiml helps Canadians:

• Test withdrawal strategies (RRSP, TFSA, CPP, OAS)
• Minimize lifetime taxes
• Build flexible plans that adapt as life changes

Ready to see where you stand?

Run your own retirement plan in minutes with Optiml and see how your plan compares to what other Canadians are doing.