Story perspectives

Toronto Couple Plans Tax-Savvy Retirement with Charitable Giving

10/12/2025

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Summary

Story summary

Stan, 75, and Mabel, 67, of Toronto, earn over $205,000 annually, including Stan's pension and government benefits.
They plan to retire next year with an after-tax spending goal of $135,000.
Financial planner Warren MacKenzie advises splitting Stan's pension income to minimize taxes and maximize tax-free savings.
They own a mortgage-free home and a cottage to help their children.
MacKenzie suggests charitable donations to enhance happiness and reduce their estate size.

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Story summary

Stan, 75, and Mabel, 67, of Toronto, earn over $205,000 annually, including Stan's pension and government benefits.
They plan to retire next year with an after-tax spending goal of $135,000.
Financial planner Warren MacKenzie advises splitting Stan's pension income to minimize taxes and maximize tax-free savings.
They own a mortgage-free home and a cottage to help their children.
MacKenzie suggests charitable donations to enhance happiness and reduce their estate size.