Retirement Planning for Single Adults in Ontario
Planning tools for the money side of retirement, written with single adults without children in mind — kept in the same Vault as your will.
What single adults without children should know
- On a single income there is no second earner to fall back on — the plan has to stand on its own.
- Plan cash flow against what you actually spend.
- Set goals with a target date — an emergency fund is the usual first.
- Track the recurring charges that quietly add up.
- How an old will stops counting in Ontario: You may revoke a will or part of a will only by making a new valid will, making a valid written revocation, or intentionally burning, tearing, or otherwise destroying it yourself or having someone do so in your presence and at your direction. A revoked will is revived only by a valid will, a valid codicil showing intent to revive, or re-execution with required formalities. Source: Succession Law Reform Act, R.S.O. 1990, c. S.26, ss. 15, 17(1), 19, 21, 21.1(1).
Frequently asked questions
Why does retirement planning matter for single adults without children?
On a single income there is no second earner to fall back on — the plan has to stand on its own.
How does an old will stop counting in Ontario?
You may revoke a will or part of a will only by making a new valid will, making a valid written revocation, or intentionally burning, tearing, or otherwise destroying it yourself or having someone do so in your presence and at your direction. A revoked will is revived only by a valid will, a valid codicil showing intent to revive, or re-execution with required formalities. Source: Succession Law Reform Act, R.S.O. 1990, c. S.26, ss. 15, 17(1), 19, 21, 21.1(1).
Is this financial advice?
No. The tools do arithmetic on the figures you enter. They are estimates for your own planning, not financial advice.
What do the retirement planning tools cost?
It is included in your Vault. Your will is free.
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