Home

Shop

Attractions

Festivals & Events

Discover the Cheapest Province to Live in Canada

Retire in comfort

As many Canadians near retirement, the sobering reality of not having enough saved up often looms large, overshadowing the excitement for this new chapter of life. A recent BNN Bloomberg poll highlights this concern, showing that 32% of Canadians close to retirement haven't saved any retirement funds. The absence of a financial safety net can drastically lower the quality of life in retirement, leading to financial stress and limited access to healthcare and daily necessities. 


For individuals who find themselves without sufficient savings for retirement, several concerns arise that can significantly impact their quality of life during their retirement years. Here are five critical concerns:

    1. Financial Insecurity: The most immediate concern is financial insecurity. Without adequate retirement savings, individuals may struggle to cover basic living expenses, such as housing, utilities, food, and healthcare. This insecurity can lead to stress, anxiety, and a reduced standard of living.

    2. Healthcare Costs: Healthcare becomes increasingly important and potentially more expensive as individuals age. Without sufficient retirement savings, affording necessary medical treatments, medications, and long-term care services can be challenging. This might lead to delaying or forgoing essential healthcare, worsening health outcomes.

    3. Dependence on Others: Insufficient retirement savings often result in increased dependence on family, friends, or government assistance. This dependence can strain relationships and may not provide a sustainable or desirable level of support.

    4. Reduced Quality of Life: Without adequate financial resources, retirees may have to significantly adjust their lifestyle, cutting back on travel, hobbies, and other activities that contribute to a fulfilling life. This reduction can lead to decreased happiness and satisfaction during what are supposed to be the golden years of retirement.

    5. Inability to Deal with Unexpected Expenses: Retirement can bring unexpected costs, such as home repairs, emergencies, or the need for assistance with daily activities. Without a financial cushion, these unexpected expenses can create significant stress and may lead to debt or further depletion of any remaining assets.

Yet, there is a silver lining through strategic retirement planning that goes beyond traditional savings and pension plans like CPP, OAS, and GIS. One effective yet underutilized strategy is relocating to a more affordable location. Here, New Brunswick shines as a prime example of affordability, offering a blend of beautiful landscapes, a peaceful lifestyle, and most importantly, a lower cost of living. New Brunswick stands out as the cheapest province to live in Canada especially in terms of housing, healthcare, and leisure activities, making it possible for your (lack of) savings to go further.

 

Choosing New Brunswick as part of your retirement strategy could transform a financially stressful retirement into one of comfort and peace. This approach offers a holistic path to a financially secure retirement. As the cheapest province to live in Canada, New Brunswick isn't just a place to retire; it's a strategic decision for those aiming for a sustainable lifestyle in their golden years.

 


Live More For Less

Contact us today for exclusive real estate deals, rare finds and a place to call home in New Brunswick.
Turn the key