In Julia's case, RRSP interest can supplement budget shortfalls. Photo by Getty Images/iStockphoto

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At 61, Julia* is happily retired, single and focused on embracing her next chapter. Specifically, after a year of renting, she wants to purchase her next home when her lease is up next July. She also wants to make sure she is saving in the most effective way to maintain a comfortable lifestyle.

She retired in spring 2024, when she was able to access her full employer pension – $70,000 a year before tax. This is her sole source of income. She has $113,000 in a chequing account — easily accessible to make the down payme

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