What replacing my tires taught me about planning for retirement

I seldom think about retirement. I rarely, if ever, think about replacing my car tires either—two major Canadian preoccupations that, for most of my life, did not occupy much space in my mind. And yet, as I’ve come to realize, both forms of “re-tirement” are inevitable, expensive, and far easier to manage when you see them coming.

When my family and I moved to Canada seven years ago, we spent months driving through neighbourhoods trying to decide where we wanted to build our life. Every time I got excited about a quiet street, a peaceful cluster of homes, or a beautifully maintained community, my wife would gently remind me that I was admiring retirement communities. It happened so often that I began to joke that my ideal home would be across the street from one. As it turns out, that is exactly where we landed. We became friends with our elderly neighbors, admired the calm rhythm of their days, and began to understand something that had not been obvious to me before: retirement here was not an abstract concept, but rather something people had spent decades deliberately preparing for.

Where I come from—I grew up in multiple countries, including India and in the Middle East—retirement exists, but it is not the organizing principle of financial life. The emphasis is on stability, on supporting family, on building something durable enough that life can evolve naturally rather than stop abruptly. You save because it is prudent. You invest because it creates opportunity. But you do not necessarily orient every financial decision around a distant, fixed endpoint called retirement.

Canada is different. Here, retirement planning is not a suggestion. It is an expectation, reinforced through employer matching programs, tax-advantaged accounts like RRSPs and TFSAs, and public pension systems designed to provide stability later in life. These are powerful tools, but they assume something critical: that you understand why they matter.

If you grow up inside this system, the logic feels intuitive. If you arrive later in life, it requires emotional and cultural adjustment. You are not just learning how to save. You are learning to think differently about time itself, to make decisions today that serve a version of yourself decades into the future.

Retirement and re-tirement: drawing parallels

This reality became unexpectedly clear to me recently while digging my wife’s car out after a heavy snowfall. As I cleared the snow, I noticed her tires were visibly worn—not dangerously so, but clearly nearing the end of their useful life. I called the dealership to ask about replacements. The price they quoted me was staggering. I promised to call them back, hoping I could find something cheaper, but the truth was unavoidable. I had not explicitly planned for this expense, even though tire replacement is as predictable as the seasons themselves.

I had failed to plan for the re-tirement!

The metaphor is obvious, but the lesson lies deeper than wordplay. Retirement itself is not a surprise expense. It is the financial equivalent of tire wear. It happens slowly, invisibly, over time, until the moment preparation stops being theoretical and becomes essential.

Canada deserves enormous credit for building systems that allow people to prepare constructively for that moment. RRSPs provide tax deferral, TFSAs offer tax-free growth. Employer matching accelerates savings. These mechanisms, when used consistently, create pathways to financial independence that are both powerful and accessible.

But accessibility and understanding are not the same thing.

Why you need to engage with the retirement system

The Financial Consumer Agency of Canada exists to promote financial literacy and empower Canadians to make informed financial decisions. Its National Financial Literacy Strategy speaks eloquently about accessibility, inclusion, and effectiveness. The language is thoughtful. The intentions are admirable. The documents are comprehensive.

And that is all fine and dandy, but lived experience tells a more complicated story.

Information exists. Action does not always follow.

Knowledge without context or insight rarely changes behaviour. You can publish strategies, frameworks, and national literacy plans, but information alone does not create urgency. I knew tires eventually needed replacing, but until I experienced the cost myself, it never became something I actively planned for. Retirement works the same way. Being told to save is easy. Understanding what is truly at stake, and how it affects your independence and peace of mind, is what actually drives action. Without that insight, financial literacy remains theoretical.

For many Canadians, particularly those who arrive from different financial cultures, retirement planning remains something they are told to do, not something they intuitively understand. 

This is not a critique of the tools themselves; Canada’s retirement infrastructure is among the strongest in the world. It is a critique of how responsibility for navigating that infrastructure is quietly placed on individuals who may not fully understand its importance until much later.

The reality is that retirement planning does not require perfection, it requires participation.

What retirement planning in Canada involves

For those still adapting to Canada’s financial landscape, a few tips can make an enormous difference:

• Start with employer matching. If your employer offers RRSP matching, prioritize contributing enough to receive the full match. It is one of the most reliable financial advantages available.

• Automate your savings. Scheduled, automatic contributions from your bank account every month or pay period remove hesitation and ensure consistency, allowing time to do the heavy lifting around growing your savings.

• Use both RRSPs and TFSAs strategically. RRSPs reduce taxable income today. TFSAs allow tax-free withdrawals later. Together, they create flexibility and protection.

• Think in inevitabilities, not possibilities. Retirement is not hypothetical. Like tire replacement, it is a certainty. Planning early spreads the cost across time and reduces financial strain later.

• Recognize that participation builds understanding. Financial confidence rarely comes from reading strategies. It comes from engaging with them consistently.

Only you can safeguard your future

My experience with tire replacement was not a failure of responsibility, it was a reminder of how easy it is to intellectually understand something without financially preparing for it. The same principle applies to retirement: you know it is coming, but knowing is not the same as planning.

Canada has built an extraordinary system to help people prepare for their futures. But systems alone do not create security—engagement with those systems does.

Retirement, like re-tirement, is not about reacting when the moment arrives. It is about recognizing, long before then, that preparation is what allows the journey to continue safely.

Because, in the end, retirement is not about stopping. It is about ensuring you can keep moving forward on your own terms.

Read more financial advice for newcomers to Canada:

• Your money, your move: Engage in your financial future
• Want to start a business? Work on your personal finances first
• Real money hacks to use when prices feel out of control
• 8 financial mistakes newcomers make—and how to avoid them

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