DIY Retirement Planning: How to Plan Without an Advisor

Financial media has long devoted extensive coverage to retirement, so it was only a matter of time before a focused community emerged for Canadians approaching or already in retirement. A few months ago, the Retirement Club for Canadians launched, founded by occasional MoneySense contributor Dale Roberts and partner Brent Schmidt of Strategic Fuel. Roberts — a former Tangerine Bank financial advisor and the voice behind the CutTheCrapInvesting blog — brings years of practical investing and retirement planning experience to the initiative.

I joined the club as a member (I have no financial stake in it) and have attended its monthly Zoom sessions. Each meeting hosts an expert presenter who walks members through practical topics, then opens the floor for questions and discussion. Sessions cover using retirement cash-flow calculators, building portfolios to match income needs, managing risk, the 4% withdrawal guideline, the best use of registered and non-registered accounts, RRSP-to-RRIF conversions, ETFs and asset allocation, and many other issues frequently explored in this Retired Money column. Members also exchange ideas on lifestyle planning: how to design a retirement life plan that balances purpose, health and enjoyment.

Roberts posted an announcement of the club on his site earlier this year; membership carries an annual fee. The organizers charge HST and suggest members consult their financial advisor or accountant about whether the cost qualifies as an investment counsel fee for tax purposes. When asked to summarize the club’s mission, Roberts puts it simply: to move retirees “from a feeling of uncertainty to certainty,” addressing the common fear that one will outlive their savings.

The club’s retirement cash-flow calculators are a core feature. They help members coordinate RRSP/RRIF/LIF, TFSA, corporate and taxable accounts together with company pensions, Canada Pension Plan (CPP), Old Age Security (OAS) and other income sources. These tools model when to draw from each account and how much to withdraw so that a retiree’s spending plan is both generous and sustainable. Members are currently testing and reviewing the leading Canadian retirement calculators to find the most useful, accurate and user-friendly options.

Delaying government pensions

One common strategy promoted within the club is delaying CPP and OAS benefits beyond age 65 to increase lifetime payouts by claiming them later, up to age 70. Many members favour taking government benefits as late as practical, though personal circumstances may require earlier access.

To bridge income gaps while deferring CPP and OAS, members often draw down RRSP/RRIF assets quickly in a planned “RRSP meltdown.” TFSAs and taxable accounts are also used to smooth cash flow while pensions are deferred. Each retiree’s plan is unique — Roberts describes a retirement cash-flow plan as “a dance” where withdrawals from different accounts rise and fall over time. For some, TFSAs remain untouched as a tax-efficient estate-planning vehicle, since TFSA assets can transfer to beneficiaries tax-free. The club emphasizes that lifestyle goals should inform financial decisions and vice versa.

The DIY retirement demographic

The club attracts many self-directed investors — retirees who manage their own portfolios rather than relying on traditional, high-fee mutual funds. That mindset aligns with CutTheCrapInvesting’s emphasis on low-cost index funds and ETFs at discount brokerages. While some members still consult fee-for-service advisors, many effectively run their own pension plans and want practical tools and peer feedback to make better decisions in the decumulation phase.

In principle, an all-in-one asset-allocation ETF can handle much of the work for DIY retirees. In practice, retirees face questions about market volatility, shifting government rules for TFSAs and RRIFs, optimal asset mixes, and geopolitical risks. A dedicated community lets members compare strategies — for example, whether to hold a core balanced ETF or to layer in specific inflation hedges like commodities, REITs, gold, or real-asset ETFs.

Roberts says maintaining the club is more than a hobby — it’s his passion. He left a lucrative advertising career to focus on financial education and investing. In regular email updates he emphasizes that members’ primary concern is financial security and efficient, low-cost use of portfolio assets. For that reason, the club maintains a master list of retirement calculators and tools — free and paid — so members can test and choose the best options for their situation.

Learning from the peer group

Beyond monthly webinars, the club provides a private online community where members post questions, share case studies and debate strategies. Roberts envisions this space becoming a central meeting hub for self-directed Canadian retirees, growing into a large community where lived experience — what worked and what didn’t — becomes a practical resource for others.

Zoom sessions typically run about an hour and include guest presentations, Q&A and small breakout discussions. Recent topics have included annuities, philanthropic giving, sequence-of-returns risk, the Retirement Risk Zone and defensive stock selection. Members also examine niche vehicles such as longevity funds and strategies that balance reliable income with inflation protection.

Balanced-growth allocations remain a common theme, often described as the “sweet spot” for many retirees. Even within a classic 60/40 stocks-to-bonds framework, Roberts and other members favor adding inflation-resistant positions: commodities, REITs or REIT ETFs, gold and some exposure to alternative assets. He also discusses selective use of bitcoin as a speculative hedge — cautious allocations in registered accounts and larger tax-free holdings in TFSAs for those willing to accept high volatility.

For many readers, the decumulation phase — turning accumulated savings into dependable retirement income — is more complicated than the accumulation years. The club’s resources help members navigate that complexity, offering calculators, peer case studies and expert input to design plans that reflect both financial realities and life priorities.

Defensive investing for trade-war risks

Defensive investing is a frequent focus, especially given the threat of tariffs and global trade frictions. The community often discusses consumer staples, utilities and health-care positions — sectors that historically show relative resilience in downturns. Low-volatility ETFs and sector-specific ETFs are commonly debated as possible ways to gain defensive exposure without sacrificing income. Members combine defensive sector allocations with inflation hedges to build portfolios intended to endure both market shocks and higher long-term inflation.

Read more Retired Money columns:

• How to allocate a RRIF for secure income in retirement
• Canadian seniors, watch out for these scams
• Why “unretirement” may be the fate of so many Canadians
• How RRIF withdrawals work when you have multiple registered accounts