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Let’s Take the Guesswork Out of Retirement Planning.

Updated: Apr 21


By now, you’ve seen different sides of retirement.


The risk of not planning. The upside of starting early. The emotional impact across generations.


Now let’s make it practical.


Because retirement planning isn’t guesswork.


It’s math.


It starts with one question:


What does your life actually cost… as a household?


TT Scenario 1: Living in Trinidad (Household View)


Let’s assume a couple wants a comfortable retirement.


Not extravagant. Not restrictive.


Just… stable.


A realistic number today:


TTD $20,000 per month (household)


That reflects:

  • Imported food inflation

  • Utilities

  • Transportation

  • Healthcare (this becomes more important later in life)

  • Some flexibility


That’s:

TTD $240,000 per year


Over a 25-year retirement:

TTD $240,000 × 25 = TTD $6,000,000


That’s your lifestyle number.


Now adjust it.


Because you may already have:

  • NIBTT income

  • Employer pension

  • Deferred annuity plans


So the real question is:


How much of that $240,000/year is already covered… and what’s the gap?


CAnada Scenario 2: Trinidadian Diaspora (Toronto / High-Cost Cities)


Now let’s look at a couple living in a high-cost area like Toronto.


Data shows:

  • Average retired couples in Canada spend about $6,500/month 

  • But that’s a national average


Toronto is not average.


In Toronto today:

  • A family household can easily spend $7,500–$8,500/month 


Even in retirement (with some costs lower), a realistic planning range is:

👉 CAD $6,500 – $8,000 per month (household)


Let’s work with the midpoint:

CAD $7,200/month


That’s:

CAD $86,400 per year


Over 25 years:

CAD $86,400 × 25 = CAD $2,160,000


Again, this is not your savings target.


This is your lifestyle requirement.


Now Layer in Reality (This Is Where Planning Actually Happens)


You won’t fund this alone.

Because in Canada, you may have:

  • CPP (Canada Pension Plan)

  • OAS (Old Age Security)

  • Employer pension plans

  • RRSP / TFSA assets


For context:

  • Average retired household income in Canada is around $6,000–$6,500/month 

  • CPP alone averages roughly $800/month per person 


So if a couple receives:

  • CPP + OAS + some pension income


They may cover a portion of that $7,200/month.


But rarely all of it.


Which brings us back to the key question:


What’s your gap?


Bringing It Together


If your household needs:

  • TTD $240,000/year in Trinidad

  • CAD $86,000/year in Toronto


And your investments can sustainably generate ~4–5% annually…


You’re looking at:

  • TTD $4.8M – $6.0M portfolio

  • CAD $1.7M – $2.2M portfolio


That aligns closely with what many Canadians feel they need:

  • Roughly $1.5M – $1.7M+ for retirement 

  • There is no equivalent survey for Trinidad but that number above is realistic.


The Problem


Most people never do this exercise.


They say:

“I’m saving.” “I have something put aside.” “I’ll figure it out.”


But without this breakdown…


That’s not a plan.


That’s hope.


The Shift


Once you understand:

  • What your lifestyle costs

  • What income is already covered

  • What’s missing


Everything becomes clearer.


You can:

  • Adjust your savings rate

  • Structure your investments properly

  • Coordinate pensions and benefits

  • Make intentional decisions


Without that?


You’re guessing.


And guessing works…


Until it doesn’t.


Turn This Into Something Real


At this point, most people understand the idea.


But very few actually take the next step.


So instead of leaving it as theory, I built a simple tool to help you apply this to your own situation.



How to Use It (2 minutes)


You don’t need to overthink this.

Just walk through it like this:

  1. Start with your monthly lifestyle number

    What would it realistically cost to maintain your lifestyle today?


  2. Add what’s already covered

    Think NIBTT, employer pensions, CPP/OAS, annuities- anything predictable.


  3. Input what you’ve already built

    Your current retirement portfolio and what you’re contributing.


  4. Decide your philosophy

    Do you want to preserve your capital… or use it over time?


That’s it.


What you’ll get is not a perfect answer.


But you will get something far more valuable:

Clarity.


And for most people, that’s the missing piece.


Final Thought


Retirement isn’t about hitting a random number.


It’s about replacing your lifestyle.


And once you’ve actually run the numbers…


You start to see things differently.


You see:

  • What’s already working

  • What’s missing

  • And how far off you really are


For most people, that moment is uncomfortable.


But it’s also where everything starts to improve.


Because now you’re not guessing anymore.


You’re making decisions with context.


From there, it’s not about perfection.


It’s about structuring things properly over time; your investments, your pensions, your insurance, your tax strategy - so that everything actually works together.


If you’ve never taken the time to map this out properly for your household, that’s the starting point.


I work with professionals and families across Trinidad and the diaspora to bring clarity and structure to this process.


To move from guessing… to knowing.


If you’re ready to understand your position; what you need, what you have, and what’s missing- feel free to reach out or book a discovery call.


No pressure. Just perspective.


-Daniel Tittil, CFA, CAIA, MSc.

Lead Advisor at WealthwithDaniel.com 

Chief Investment Officer at Legacy Wealth Management (Cayman) Ltd.

Portfolio & Wealth Manager, Director at Admiral Capital


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