(Early) Retirement

Marci • November 3, 2017

A life of exploration. A life of slowing down and of taking it all in. A life where anything goes and anything is possible. A life of hiking in the mountains, or of driving the coast, or of relaxing on the beach; golf and beautifully elegant meals set in front of you as you and your partner stare out into the setting Caribbean sun. Blue water and white sand; time to relax and reflect. This is the life for which you’ve been waiting. But just how long will you have to wait?

In 2017, the dream of early retirement seems to be just that, a dream, for a growing number of the working population. Increasingly, those entering retirement age have remained in the workforce, staying longer at their current jobs or, in many cases, finding themselves in new positions where they are actually under-employed. According to official statistics, 32 percent of Canadians expect to be working (in some capacity) at age 66, while 22 percent don’t expect to be able to retire, at all.

Very simply, this generation can’t seem to get away from work. And while some of this is preference, for many individuals living in today’s tough economic climate, the reality is, the money just isn’t there. Why the reverse work exodus? Well…

The cost of living has increased. Utilities have gone up; supply and demand has dictated that the cost of many (fresh) food products has gone up. The cost of housing in many major and mid-sized centres has gone up (and as of this writing, continues to climb); and mortgages which used to be paid out over 10 to 15 years are now being paid out over 25 years (or more).

Additionally, millennials (those born [around] 1980 to 2000) are coming home after university in record numbers; saddled with debt and unable to find quality, or even consistent work in their field. This has meant that parents who were once paying for the living cost of two individuals are now paying for more family members, later in life (not to mention the cost incurred by those moms and dads who graciously paid for the education of their children).

These factors (and more) have certainly left us with an interesting, albeit not impossible set of circumstances with which to overcome.

But, what if you could break the cycle? What if you could retire now, and live comfortably? What if you could close your eyes, open them, and find yourself in a place where you have the time to do the things that you want to do? What if your golden years were actually golden?

With the help of a CHIP Reverse Mortgage, the dream of early retirement, of living these years to the fullest, is within reach! So, the question shifts from, “When will I be able to retire?” to, “What will I do with myself after I retire?” This is a good change!

However, this shift should come with a change in outlook. Because, rather than managing, saving, and putting away money, the task becomes managing the most precious of all commodities, that being time. Because of this, the following are a few ways that you can use your time to make a positive impact in your “post-work” life.

Building Relationships

When money (or a lackthereof) isn’t a constant point of stress, you’ll find that you have time to build into those relationships that you’ve “shelved” over your years of working and career building. Make these moments count by connecting and by staying connected with the people whom you love; your partner, your family, and your friends. And don’t, for a moment, think that the time for making new friends is over. Get out there and meet new people. Find individuals with similar interests, and build into them as well!

Passions

A stable bottom line will also afford you the opportunity to follow your passions. These years are perfect for picking up that long neglected hobby, and pursuing those dreams that were put on hold. Keep in mind, It won’t be about doing it perfectly (whatever your “it” is); it’ll be about simply enjoying the experience and everything that comes with it.

Opportunities to Give Back

Finally, as your financial positions gains a measure of health, it will be important to give back (something we should all be doing, no matter our situation in life). Do something that will last. Help others; be kind, and generous with what you have. And remember that a life focused on giving will be more fulfilling than anything that you could buy and keep for yourself.

So if you have questions about the CHIP reverse mortgage or you want to know how you can retire, now, in comfort, let’s talk. I’m a certified reverse mortgage specialist and I would love to hear from you.

Please contact me directly , and let me walk you through the process.

Oh, and happy early retirement!

 

Share

How to Access Your Home Equity Wisely

By Marci Deane • April 1, 2026
Need to Free Up Some Cash? Your Home Equity Could Help If you've owned your home for a while, chances are it’s gone up in value. That increase—paired with what you’ve already paid down—is called home equity, and it’s one of the biggest financial advantages of owning property. Still, many Canadians don’t realize they can tap into that equity to improve their financial flexibility, fund major expenses, or support life goals—all without selling their home. Let’s break down what home equity is and how you might be able to use it to your advantage. First, What Is Home Equity? Home equity is the difference between what your home is worth and what you still owe on it. Example: If your home is valued at $700,000 and you owe $200,000 on your mortgage, you have $500,000 in equity . That’s real financial power—and depending on your situation, there are a few smart ways to access it. Option 1: Refinance Your Mortgage A traditional mortgage refinance is one of the most common ways to tap into your home’s equity. If you qualify, you can borrow up to 80% of your home’s appraised value , minus what you still owe. Example: Your home is worth $600,000 You owe $350,000 You can refinance up to $480,000 (80% of $600K) That gives you access to $130,000 in equity You’ll pay off your existing mortgage and take the difference as a lump sum, which you can use however you choose—renovations, investments, debt consolidation, or even a well-earned vacation. Even if your mortgage is fully paid off, you can still refinance and borrow against your home’s value. Option 2: Consider a Reverse Mortgage (Ages 55+) If you're 55 or older, a reverse mortgage could be a flexible way to access tax-free cash from your home—without needing to make monthly payments. You keep full ownership of your home, and the loan only becomes repayable when you sell, move out, or pass away. While you won’t be able to borrow as much as a conventional refinance (the exact amount depends on your age and property value), this option offers freedom and peace of mind—especially for retirees who are equity-rich but cash-flow tight. Reverse mortgage rates are typically a bit higher than traditional mortgages, but you won’t need to pass income or credit checks to qualify. Option 3: Open a Home Equity Line of Credit (HELOC) Think of a HELOC as a reusable credit line backed by your home. You get approved for a set amount, and only pay interest on what you actually use. Need $10,000 for a new roof? Use the line. Don’t need anything for six months? No payments required. HELOCs offer flexibility and low interest rates compared to personal loans or credit cards. But they can be harder to qualify for and typically require strong credit, stable income, and a solid debt ratio. Option 4: Get a Second Mortgage Let’s say you’re mid-term on your current mortgage and breaking it would mean hefty penalties. A second mortgage could be a temporary solution. It allows you to borrow a lump sum against your home’s equity, without touching your existing mortgage. Second mortgages usually come with higher interest rates and shorter terms, so they’re best suited for short-term needs like bridging a gap, paying off urgent debt, or funding a one-time project. So, What’s Right for You? There’s no one-size-fits-all solution. The right option depends on your financial goals, your current mortgage, your credit, and how much equity you have available. We’re here to walk you through your choices and help you find a strategy that works best for your situation. Ready to explore your options? Let’s talk about how your home’s equity could be working harder for you. No pressure, no obligation—just solid advice.

Smart Strategies to Save for Your Down Payment

By Marci Deane • March 25, 2026
How to Start Saving for a Down Payment (Without Overhauling Your Life) Let’s face it—saving money isn’t always easy. Life is expensive, and setting aside extra cash takes discipline and a clear plan. Whether your goal is to buy your first home or make a move to something new, building up a down payment is one of the biggest financial hurdles. The good news? You don’t have to do it alone—and it might be simpler than you think. Step 1: Know Your Numbers Before you can start saving, you need to know where you stand. That means getting clear on two things: how much money you bring in and how much of it is going out. Figure out your monthly income. Use your net (after-tax) income, not your gross. If you’re self-employed or your income fluctuates, take an average over the last few months. Don’t forget to include occasional income like tax returns, bonuses, or government benefits. Track your spending. Go through your last 2–3 months of bank and credit card statements. List out your regular bills (rent, phone, groceries), then your extras (dining out, subscriptions, impulse buys). You might be surprised where your money’s going. This part isn’t always fun—but it’s empowering. You can’t change what you don’t see. Step 2: Create a Plan That Works for You Once you have the full picture, it’s time to make a plan. The basic formula for saving is simple: Spend less than you earn. Save the difference. But in real life, it’s more about small adjustments than major sacrifices. Cut what doesn’t matter. Cancel unused subscriptions or set a dining-out limit. Automate your savings. Set up a separate “down payment” account and auto-transfer money on payday—even if it’s just $50. Find ways to boost your income. Can you pick up a side job, sell unused stuff, or ask for a raise? Consistency matters more than big chunks. Start small and build momentum. Step 3: Think Bigger Than Just Saving A lot of people assume saving for a down payment is the first—and only—step toward buying a home. But there’s more to it. When you apply for a mortgage, lenders look at: Your income Your debt Your credit score Your down payment That means even while you’re saving, you can (and should) be doing things like: Building your credit score Paying down high-interest debt Gathering documents for pre-approval That’s where we come in. Step 4: Get Advice Early Saving up for a home doesn’t have to be a solo mission. In fact, talking to a mortgage professional early in the process can help you avoid missteps and reach your goal faster. We can: Help you calculate how much you actually need to save Offer tips to strengthen your application while you save Explore alternate down payment options (like gifts or programs for first-time buyers) Build a step-by-step plan to get you mortgage-ready Ready to get serious about buying a home? We’d love to help you build a plan that fits your life—and your goals. Reach out anytime for a no-pressure conversation.

Bank of Canada Holds Rate at 2.25% — March 18, 2026

By Marci Deane • March 18, 2026
The Bank of Canada announced today that it is holding its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. For anyone watching the mortgage market — whether you're renewing, purchasing, or simply keeping an eye on borrowing costs — here's a breakdown of what was announced and what it may mean for you.