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Lack of these resources would mean the couple and their kids would be entirely on their own in a financial sense. Few countries provide them for foreigners, even those that set up long-term residence. Whether they could replace any government pensions in a tropical country is questionable. They would stop contributing to their own TFSAs and RRSP plans. They could get CPP, but skipping 1.5 decades of contributions before 65 would cut benefits drastically.
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Living abroad, they would have at most 80 per cent of the 40 years residence in Canada after age 18 required for full OAS. But it is risky over the four decades Richard and Marianne would have up to their respective age 90s. The strategy of selling the house in Canada and then living abroad is feasible. Can this Alberta couple’s six rental condos support their big travel plans in retirement?Īlso Read This News Insights on the Commercial Real Estate Global Market to 2027 - Retail Sector is Likely to Witness Significant Growth - & More Latest News.

