Episode 247: Asset Rich but Cash Poor: Why Real Estate Alone Won’t Fund Your Retirement in Canada

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Are you really financially free if your net worth is locked in real estate but your cash flow still feels tight?

This episode is for the investor who looks strong on paper but still feels uncertain about retirement. If you’ve built wealth through property, kept buying, refinancing, and growing equity, but haven’t created reliable income, this conversation will hit home. Kyle and Jon unpack the uncomfortable gap between being asset rich and actually having the freedom to live confidently from your money.

• You’ll hear how real estate can be an incredible wealth-building tool while still falling short as a standalone retirement income strategy.
• You’ll learn why chasing equity growth alone can leave you stressed, overleveraged, and unclear on your next move as retirement gets closer.
• You’ll walk away with a clearer way to think about diversification, liquidity, and building dependable income alongside your net worth.

Press play now to rethink whether your portfolio is truly built for retirement—or just built to look good on paper.

Resources:

• Ready to take a deep dive and learn how to generate personal tax free cash flow from your corporation? Enroll in our FREE masterclass here. 
• Book a Discovery Call with Kyle to review your corporate (or personal) wealth strategy to help you overcome your current struggle and take the next step in your Canadian Wealth Building Journey!
• Discover which phase of wealth creation you are in. Take our quick assessment and you’ll receive a custom wealth-building pathway that matches your phase and learn our CRA compliant tax optimized strategies. Take that assessment here.
• Dig into our Ultimate Investment Book List
• Follow/Connect with us on social media for daily posts and conversations about business, finance, and investment on LinkedIn, Instagram, Facebook [Kyle’s Profile, Our Business Page], TikTok and TwitterX. 
  

Calling All Canadian Incorporated Business Owners & Investors:

Consider reaching out to Kyle if you’ve been…

• …taking a salary with a goal of stuffing RRSPs;
• …investing inside your corporation without a passive income tax minimization strategy;
• …letting a large sum of liquid assets sit in low interest earning savings accounts;
• …investing corporate dollars into GICs, dividend stocks/funds, or other investments attracting cordporate passive income taxes at greater than 50%; or,
• …wondering whether your current corporate wealth management strategy is optimal for your specific situation.

For Canadian business owners and investors, a strong real estate retirement strategy should go beyond simply accumulating properties and focus on creating dependable retirement income from real estate without becoming asset rich cash flow poor. In the world of Canadian real estate investing, long-term success comes from balancing real estate cash flow with financial diversification Canada, using tools like RRSP optimization, tax-efficient investing, and smart corporation investment strategies to support a broader Canadian wealth plan. Whether you are comparing salary vs dividends Canada, refining personal vs corporate tax planning, or exploring business owner tax savings through corporate structure optimization, the goal is the same: build systems that support financial independence Canada and a realistic early retirement strategy. For many entrepreneurs, that means aligning wealth building strategies Canada with a modest lifestyle wealth mindset, using financial buckets, an investment bucket strategy, and passive income planning to separate short-term needs from long-term growth. Add in thoughtful capital gains strategy, legacy planning Canada, estate planning Canada, and practical retirement planning tools, and you create a framework for building long-term wealth Canada that supports both lifestyle freedom and lasting family wealth.

Transcript:

Kyle Pearce: If you had $7.5 million of net worth tied up in real estate, would you consider yourself financially free? What if I told you that that same person is stressed, cash constrained, unsure how to retire, and thinking about buying more property because it feels safer?

Kyle Pearce: A listener, we’re going to call him Tom today, reached out. He’s asset rich. He’s cashflow poor approaching retirement, seven plus million dollars in equity, businesses that don’t seem to be paying him or at least are not consistently cash flowing, families working hard and there’s no clear income plan. Today we’re going to unpack why real estate is an exceptional wealth builder and one that we’ve relied on for many, many years, but very difficult to use as a retirement income strategy if it is your only investment strategy.

Jon Orr: Yeah, like, and I think when you think about the wealth builder, like when we had talks years ago about why real estate is one of the best asset classes you can get into, you know, remember, we had just discussions around after reading Rich Dad Poor Dad, other books around real estate and thinking about assets versus liabilities and why real estate was, say, the asset class we should be putting our money into.

Jon Orr: I think I had these visions. Okay, so then when I have, you know, at the time as a T4 employee, it was like when I have the extra cushion, when I redesigned my budget and I create this amount that I want to continually put into these funds so that when a property arises, when we’re doing the analysis, like when that property is there, I want to be ready to buy or go halvesies with you on a property that we can feel good about, like going, that’s my retirement strategy.

Jon Orr: I remember having things like, that house is my oldest kid’s house. Even though it’s not legally their house, I was imagining it was like a fund. That amount of money sitting in that property over there is like a fund. It’s gonna be there for a really long time. That’s gonna be a retirement strategy, or it’s a fund that’s gonna pay for an education, or it’s a fund that’s going to pay for a wedding, it’s a fund that’s going to help someone with their own down payment on a house.

Jon Orr: It’s like, it’s a fund that’s going to be fine with my retirement. So all my retirement strategies were like, let’s go into real estate. We feel confident there. We’ve had success there. All of a sudden we’re seeing our data. We look at our spreadsheets, it’s like, my return on investment is higher. I’m seeing my return on initial investment is like 15, 20%. That looks pretty good. Like that feels way better than say putting it in the stock market. So you can see why people think about it as a wealth builder and a retirement strategy, but I think what you’re saying is it’s a great wealth builder, but the retirement strategy, we’ve got some holes here.

Kyle Pearce: Yeah, 100%. And I think it’s really easy for anyone along their wealth building journey. Like the goal is you gotta get started and you gotta start building some investments, some assets, right? So like first and foremost, we’re not here to suggest that you and I maybe did it wrong, so to speak, but we definitely had some blind spots along the way, right?

Kyle Pearce: And when you really frame out far into the future, the goal there is like, I want to make sure my net worth is higher than it is today. I want to make sure it continues to grow, it compounds, that I’m in an asset class I feel comfortable and confident with. And of course real estate is going to feel more comfortable, more reliable likely than some of these other asset classes that maybe you don’t have any experience in, right?

Kyle Pearce: So these are great reasons why starting early in real estate makes a ton of sense. Over time, there’s scarcity. We can go knock on the door, right? We know how this works, right? The tenant’s gonna pay money, it’s gonna help to pay off this leverage. And over time, eventually, the goal is likely that you’re gonna pay off this mortgage and it’s just gonna be cashflow coming in.

Kyle Pearce: However, the part that’s sometimes a little bit harder to deal with is really making sure that if that’s your only cashflow stream — this is something that we only started realizing more recently when we started to reflect on our own portfolios and recognize that we just churn the money back in the portfolio, right? We usually take that cashflow and it goes to do something, be it improving a property, fixing a roof, there’s a tenant that wasn’t paying.

Kyle Pearce: Like that cashflow, even though on paper it’s showing cashflow positive, very quickly when you actually add up the things along the way, oftentimes that cashflow dips pretty significantly. So while we’re at the stage where you have these mortgages, the returns look great on paper, because we’ve only got a chunk of our capital in there that was originally our money, our equity that we put in these properties.

Kyle Pearce: So that part’s fine and dandy. But fast forward, once these mortgages are paid off, cashflow is gonna bump up, but hassles are still going to be there. And some of that volatility and flexibility in cashflow could still be there. Really, today’s episode is just unpacking some of the things you wanna be considering along the way. We’re not suggesting you can’t do it all in real estate, but what we are saying is that if your goal is to continue just pulling equity, buying another property, pulling equity, buying another property, you may never get to a place where you have enough consistent cashflow coming in where you could feel comfortable or confident that you’re able to fully retire.

Jon Orr: So I guess what you’re saying is that there’s, in a way, almost like an accumulation strategy. If you’re in the accumulation strategy right now in real estate, the going theory is you’re gonna invest, you’re gonna use leverage. If it’s like, let’s say you’re buying in your corp and you gotta put 30% down, it’s like, okay, that chunk goes in, but you wanna refinance as quickly as possible to pull as much of your original equity out.

Jon Orr: Because that sounded great. It’s like, now I have infinite return on my original investment because now my money’s come back to me. I’ve re-leveraged, which means my cashflow is a little bit poorer, but I now know that I can go take this new money and go buy the next property. And all of a sudden I’m creating this flywheel effect between my properties because now I have more properties, but I always just use the same amount of money. So like that theory makes a lot of sense.

Jon Orr: And I think what you’re saying though is while you’re doing that, you’re always highly leveraged on the properties. And because you’re highly leveraged on the properties, the expenses, the mortgages, are gonna keep your cashflow in a reduced state. When you were imagining maybe that 20 years from now your cashflow would be your retirement income, and if you’re continually reinvesting and reborrowing to buy the next property, that’s not gonna be the case.

Jon Orr: Because of that strategy. And then I guess knowing that is important. So then when you think about it, it’s kind of like when you’re accumulating your investment portfolio and then you’re now in the withdrawal stage. So imagine I’ve accumulated following the strategy, knowing that it’s not my retirement strategy because I don’t have any cashflow other than minimal amounts, even though I do, like this person, I’m asset rich, but I don’t have any cashflow because of the strategy. Now what’s my move?

Jon Orr: Let’s say like, what are the downsides to say building that up over 20 years, 30 years, and then still trying to go, I want that to be retirement because I am so asset rich. How do I make it so I’m cash rich?

Kyle Pearce: Right, right. And I think really what it comes down to is, you know, again, when you are just in this asset accumulation mode, accumulation phase of life, you know, doing that can be really helpful. But as you see in that like five to eight year time horizon where you see potentially getting to quote unquote FIRE, you know, where you’re financially independent, you don’t need to worry about money, you don’t have to work if you don’t want to — if you’re entering into that zone, or you want to get closer to that zone, we need consistent cashflow taking place.

Kyle Pearce: So one of two things really has to happen. If you just continually pull equity from properties, which again brings the mortgage up higher, payments up higher, rents may not always go higher at that time, right? Because you’ve already maybe got leases in place, those leases may stay consistent. So payments are gonna go up, cashflow is gonna go down. Now, you’re still putting some of those mortgage payments to principal, which is good, that’s helpful, that’s giving you more equity over the long run, but you may not have a ton of that cash in your hands.

Kyle Pearce: And if you take that equity and put it into the next property and that equity is being used as a 20-30% down payment on the next property, we now have a similar tight cashflow situation going on over here. And again, when I’m working this is completely fine, right? So I’m working, I can put food on the table, I have extra money, should I have a shortfall somewhere in my portfolio, no problem.

Kyle Pearce: But as we get closer to retirement, we really have two options. Well, I should say there’s three. One is you can sell the property completely, right? You take all of the equity out, you experience capital gains, which we’re going to have to experience. So we’re gonna pay on half of the capital gain. And we’re gonna get this big bucket of money. Of course, it’s unlikely that you need that full bucket for that particular year. So what do I do with the rest of it?

Kyle Pearce: I could put it into another property and then get back in the same situation. Or the other option is I might actually refinance the property in order for me to live off of the equity. So I pull out the equity. I’m not gonna pay tax on the equity I’m pulling out, but I can’t write off the interest on the mortgage.

Jon Orr: Right. So you’re not going to buy the next house, you’re going to use the equity — instead of buying the next house, this is now my income for the year.

Kyle Pearce: 100%. You could totally do that. And that is a strategy that works, except what’s tricky about that scenario is that we often forget that now if we actually look at our quote unquote returns on that property, they have been altered significantly because now we’re not pulling the equity for investment purposes. We’re now pulling it for lifestyle, which means we’re going to be paying back interest, which again, not tax deductible against that property.

Kyle Pearce: So the really the only returns I get on that property are gonna be appreciation, which may or may not happen from year to year. Typically, it’s gonna be somewhere around the inflation rate, right? Maybe two to 4%. Sometimes it’s higher. And whatever extra cashflow we might have in the property, but like we had said before, if there’s a little bit extra cashflow, sometimes that could be risky, not leaving it there in a CapEx account because who knows what the next expense might be or the tenant that trashes the place or whatever it is.

Kyle Pearce: So that’s a really tough spot to be in. So the third option, and this is an option that we would say we wanna expose for people to be thinking about, is for those people who are all in real estate. It’s almost like a camp. And I used to be a part of this camp. Like I used to be the, I only trust real estate. I’m comfortable with real estate. Really what that meant was I didn’t do enough work understanding other asset classes and therefore I was limited to real estate.

Kyle Pearce: So it was an asset class I felt comfortable putting my money into. I still feel comfortable putting my money into it, but as we project out into the future — and I’ll be honest and say it was only when we started doing this work for other individuals who are investors and business owners — it became quite apparent to me that those people who were getting close to retiring with lots of real estate, so like future me, right? Like the Kyle of 10 years ago when I was all real estate, future Kyle would be at the same spot where I’m going, hmm, I didn’t really think about the fact that I need money in my life.

Kyle Pearce: There’s a lot of dead equity in all of these real estate properties. It’s safe. I know it’s there. I know I’ve got this large net worth, but I don’t have as much cashflow from month to month as I really need. So what I think real estate investors should be doing is that as they’re building, you can only start — especially if you’re starting in real estate, it’s hard to be able to do everything because real estate requires such a large capital commitment upfront.

Kyle Pearce: So if you’re like we were, where we went into real estate before the other markets, the thing that we have to look at is as we build that portfolio, we have to start thinking about diversifying to ensure that we have more liquid assets, like assets that are easier to either cashflow and or buy and sell out of. Now, good and bad to that of course, but the idea here is that if we’re all in real estate, we put ourselves in a really difficult spot.

Kyle Pearce: Unless you’ve managed to accumulate such a large portfolio that you could have paid off mortgages and not really care about the returns that you’re getting just because the cashflow keeps you going. But the actual return on a fully paid off rental property, at least in Canada, typically is nowhere near what you thought you were getting on paper back when you had the mortgage.

Kyle Pearce: So stated another way, if I’ve got 100% equity in a property, there’s zero mortgage on this property, I am going to cashflow more significantly, but now I’m relying only on the appreciation of the property and the actual cashflow from the tenant.

Jon Orr: Yeah, well, let me ask you about that strategy because the other, thinking about that as a retirement strategy. So the other strategy was like accumulate, accumulate, accumulate, accumulate, then when you get to retirement, leverage instead of buying the next property, use the leverage, you’ve got high interest, then at some point you’re gonna die and that has to be then accounted for and then there’s capital gains. But the other strategy you said is that if you work towards cashflow and paying off the mortgage.

Jon Orr: So you accumulate enough property so that you’re not highly leveraging, which means now you’re more focused on the income and getting the cashflow, because cashflow is king. And that could be the strategy to say, now this is actually my retirement strategy because I have enough cashflow, because I kept the mortgage low and I eventually paid the mortgage off. So now I even have more cashflow.

Jon Orr: And if you think about this, because you were saying that the return is like a GIC type return, but in a way you’re getting the dividend, you know, if you’re comparing it, right? So all of a sudden it’s like, I have a monthly dividend coming in from this property. Yeah, I only have 3%, let’s say appreciation on the property. But to me, that acts like say an income fund or a fund that’s specifically saying our main priority here is not capital appreciation. Our main priority is to give you an income.

Jon Orr: And that is the strategy that I’m looking at if that’s the move you wanna make in retirement. So but what’s the issue there, because it does seem like an income source if you compare it to income funds in retirement? Is that the only catch — that it’s just too hard to accumulate such a large portfolio where the cashflow of all the properties is enough to give you your FIRE number in retirement?

Kyle Pearce: Yeah. And I would argue, I would say like it is a strategy that can work. I think one of the parts that people get stuck in is that typically those mortgages are going to be amortized probably over 25 years, sometimes 30, sometimes longer if they’re CMHC mortgages, right? And ultimately at the end of the day, you’d have to be very strategic about your accumulation during the phase, meaning every five years typically come up for renewal. There’s a decision that has to be made.

Kyle Pearce: We could refinance to pull out some equity, put it into another real estate property, we could put it into other properties that need improvement, or we could put it into some other type of investment. As soon as I do that, assuming that I re-amortize out, it’s like I’m putting that paid off mortgage further and further into the future. So if I wanna go with the strategy of like the mortgage will pay off, the tenants are gonna pay off the mortgage over 25 years, and eventually it will just be cashflow for retirement — it’s a great strategy.

Kyle Pearce: The one challenge is that if you want to buy the second rental property, now you’ve got to pull that money from another source, right? Exactly. Exactly.

Jon Orr: It’s another 20, another 30 years. And it’s like, by the time you actually get to the end of the accumulation stage, you now have all these properties that are fully mortgaged and you’re going to wait too long to actually reap the benefits of that move.

Kyle Pearce: Exactly, exactly. Not to mention that markets work differently, you know, so sometimes like when the real estate market’s ripping, maybe the other markets, other asset classes maybe aren’t ripping at the same time. Sometimes they rip together and go to all time highs together. Sometimes they go down together. But the reality is, as we start stacking real estate, as you had said, it usually takes a little bit more time.

Kyle Pearce: You know, it’s not as easy as maybe it used to be coming out of 2008 to go, hey, I’m going to buy a few properties and then a couple of years later the market’s been recovering and then you’re going to refinance them all. All of a sudden you’re at, you know, three properties to six properties and six to 12. That can be a really hard process, but also the length of time as you’ve articulated can be tough.

Kyle Pearce: Not only that, but let’s say I buy a property amortized over 25 years. We stay in that property, maybe improve that property. Let’s say two years into that property, you’ve done enough to improve it so that you can refinance the property, pull more money out, but then you’ve now stretched out the amortization likely, right? You’ve likely stretched it out 25 years, and then you put it into another property. We now have a second property that is amortized over 25 years. And you can sort of see how this snowball works, where it’s great at building equity in these properties, which is fantastic.

Kyle Pearce: But at some point down the road, either I have to have enough properties and the arbitrage on what I’m getting in rents, top line rents, and what we’re actually walking out the door with in our own pocket has to be substantial enough that it’s going to give you a consistent lifestyle. Not to mention something that we often miss in real estate is that it usually is a job. Like usually if you want to have that extra arbitrage, you’ve got to do a lot of the work, right?

Kyle Pearce: I pay a property management team to do the work and I still meet with the property manager every single week for an hour. I pay these people to essentially do all of this work and therefore that takes a lot of the extra juice off the top. So, you know, it is one of these things that you don’t think about when you’re trying to build your net worth because your net worth means so much. It is an important number. But then at some stage down the road, you have to start articulating like if my net worth is 5 million, 10 million, 50 million, but I don’t have consistent income coming in.

Jon Orr: Sounds like you need a new property manager.

Kyle Pearce: I’m feeding my net worth number, which is great and it feels great. But what doesn’t feel great is like when you’re like, shoot, I have no idea where the next dollar is coming into my personal bank account for my lifestyle, despite having this said net worth.

Jon Orr: Yeah, I think a good move, because I think one is like, you could be looking at your portfolio as like, this is the nest egg where I’m not using it for retirement income. Keep doing what you’re doing. Like keep using those strategies. But I think a lot of us are or had been looking at it that way and or want to say, well, how could I make it look that way? And I think what we have to realize is that we do have to then focus more on what the cashflow or what your income is going to be from those assets. And that’s a different maybe transition or different thinking that needs to happen with some different moves.

Jon Orr: Like good moves might be if you’re in the accumulation stage, keeping track of like what working capital do I have inside this machine that’s building? Like this is the amount of money that I’ve invested. My working capital is doing its work. But also, because I think we track that, it’s like, oh, that’s part of my net worth. But the other key number to look at, especially if you’re trying to think about income and using retirement income to fuel your lifestyle, is keep track of what income is being produced on a monthly basis.

Jon Orr: Ideally, you’re trying to structure both of those to go up. And so you have to decide whether, you know, if I make this move of investing in this property, does the one number go up or do both numbers go up? And how do I structure the next deal so both numbers go up? Or maybe I don’t do that move because I need this number to go up and not this number to go up right now. That’s a really important component of trying to structure your assets and structure your plan so that when you get to this golden era, you have both of these things.

Jon Orr: And now you’ve got this income you can rely on because now you have basically what everyone’s saying — you have passive income, which we all know is not really passive in real estate, but you have an income source that’s predictable and regular that you can now rely on for lifestyle. Which is like what you’re after for a pension, or like, I’m gonna have my RSPs which is heavily invested in the market, but I’ve been using dividend funds. So it’s going to spit out dividend amounts every month.

Jon Orr: You should be keeping track of that. It’s the same idea. It’s like how much is the monthly income or income that I’m getting from these sources, and I want both of those things to go up over time. Just track that with your real estate moves and then all of a sudden you’ve replicated that same strategy. You’ve overcome some of these barriers of thinking about real estate as an asset class that’s really a wealth builder but not a retirement income strategy.

Kyle Pearce: Right, right. Or just, it can’t be the entire income strategy for most, you know, is kind of the key. And, you know, if you really think about it, like when you’re owning real estate, you have a business. So a lot of people that listen to our podcasts are business owners.

Kyle Pearce: Just imagine a world where you have your own business. Let’s say you’ve got a great top line revenue and a great amount of retained earnings each and every year coming out of this business. The reality is, why would you ever sell that business? You probably wouldn’t want to, you’d wanna keep the cashflow going. But for a lot of business owners, they end up wanting to sell their business because they have to put so much of their own time and effort into it in order to generate the revenue and the net operating income that they would rather take the money and go.

Kyle Pearce: But now think about this from real estate’s perspective. Like a lot of the same things happen for a lot of real estate investors. They put a lot of time and energy and money into real estate. They know real estate is a good long-term asset, but it’s not producing them a significant enough amount of income per year.

Kyle Pearce: So I want to take the example of Tom. This is an individual who has a large portfolio. Top line in terms of the value of the real estate, over 20 million, about seven and a half million dollars in net equity or total equity in this portfolio, but doesn’t have consistent cashflow coming in. If we do some quick math using the quote unquote 4% rule, a $7.5 million balanced 50-50 portfolio — which again, we’re not advocating people use a 50-50 portfolio — but when we go back to the old research on the 4% rule, that should be able to generate around $300,000 adjusted for inflation each and every year. So the fact that there’s a cashflow crunch here is highlighting this very issue.

Kyle Pearce: So he could refinance, but then bills go up, right? So now you have to take that money. What do I do with that money? I have to invest it. What do I do? I put it back into more real estate. My net worth goes up, but my cashflow may not consistently increase over time. The keyword is consistent, right? So this is where we have to be very careful.

Kyle Pearce: And some people would say, well, Kyle, if you’ve got a portfolio that big, should I sell the whole portfolio? Even if you did, right? And let’s say you had to sell the portfolio and let’s say half was capital gains and the other half was adjusted cost basis. That seven and a half goes down to say $5 million. You’re like, well, that’s a lot of money to leave on the table, but the income is still going to be higher than what this individual is receiving from day to day in a very balanced portfolio.

Kyle Pearce: So what we just have to be cautious of is like trying to figure out what is that longer term cashflow play gonna be for you when you want to say goodbye to whatever your career, your salary, your business that you might be in. And in his case, what I’ve suggested is I’m like, listen, you’ve got a lot of equity out here. I think what you do is you at least leverage what you can out of some of the properties. Maybe it’s one, maybe it’s two, maybe it’s across multiple properties. And you pull enough equity where you’re able to take that and put it into another cashflow producing portfolio and get yourself some cashflow.

Kyle Pearce: So we’re not saying pull the rip cord on real estate necessarily. If he doesn’t wanna do leverage, then he might have to sell a property and experience some capital gains. But really the biggest thing that I think is hurting this particular individual along with so many others who are so heavily invested in real estate is that they’ve got so much equity sitting there, continuing to grow at the rate of inflation or the appreciation rate of the real estate. And then there’s a massive variable in rents, in cap expenditures, in all of these other things going on that there isn’t any consistent cashflow.

Kyle Pearce: So whether you use leverage, whether you need to sell some real estate and diversify into another type of asset class, maybe it’s alternatives, it can be a mixture. You need to get yourself in a position where you have enough liquid net worth so that you can live the life you want to because whether you die with seven and a half million or $750 million, if you didn’t have cashflow from day to day to live the lifestyle that those net worths should be affording you, then I’m going to argue we’re doing it wrong.

Kyle Pearce: Notice I used the “we” because I was in that bucket for many years. Like I was doing it wrong to think that I would be only real estate. Not only is that so concentrated in one asset class, but the reality is that from a cashflow perspective, it puts you against the odds. And I want to tilt the table in my favor, not away from me. So I want high net worth, but I also want to make sure my cashflow is strong and reliable so that regardless of what happens in the markets, I’m feeling confident in my plan so that I can live the life that I want to and my family can live that life alongside me as well.

Jon Orr: Well said, well said. I think my takeaway is real estate is a great tool. We talked about a wealth building tool, but tools are not strategies. If my retirement was depending on just one asset class and it had to behave perfectly, then I don’t have a retirement plan. I just have a hope plan. And so I would rather restructure some of those moves to have multiple asset classes to create some balance, but then focus on income and where that income is actually going to come from in my retirement stages. So that’s the strategies I would want to look at.

Kyle Pearce: I love it. I love it. And friends, if you are interested in having a review of your situation for different perspectives, ideas, things to consider along your journey, along with full holistic wealth management planning, you can reach out to us over at canadianwealthsecrets.com forward slash discovery. And of course, if you want to see how you’re doing along the path, right, we’ve got four stages that we try to highlight for you to be thinking about and to really focus on so that you have a nice strong plan over the long term. You can reach out to us over at canadianwealthsecrets.com forward slash pathways so you can take our free pathways assessment.

Jon Orr: Just a reminder, content you heard here today is for informational purposes only. You should not construe any of this information as legal, tax, investment, or financial advice. Kyle Pearce is a licensed life and accident and sickness insurance agent and the president of corporate wealth management here at Canadian Wealth Secrets.

Canadian Wealth Secrets is an informative podcast that digs into the intricacies of building a robust portfolio, maximizing dividend returns, the nuances of real estate investment, and the complexities of business finance, while offering expert advice on wealth management, navigating capital gains tax, and understanding the role of financial institutions in personal finance.

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