10 Money Mistakes Canadians Make at 40 That Wreck Their Retirement

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Издатель Jun 9, 2026

#maplemoney #canadianfinance #moneycanada

What are the 10 money mistakes Canadians make in their 40s that quietly destroy retirement? In this video, I break down every one of them, what each mistake actually costs by age 65, and exactly how to fix it before your future self pays the bill. From H.E.L.O.C. debt and missed R.R.S.P. contributions to cosigning loans, rolling car leases, and burning tax refunds on lifestyle, these are the silent wealth killers most Canadians never see coming.

Your 40s feel like the most stable decade of your life. Income peaks, the mortgage feels manageable, the kids are settled. But underneath the surface, it's actually the most expensive decade for making the wrong move. Every dollar that goes to a HELOC balance, a four-year lease cycle, or a bank protection product is a dollar that doesn't compound inside your R.R.S.P. or T.F.S.A. for the next 25 years. Fix these now and you change what retirement looks like.

Timestamps:
0:00 Why your 40s decisions matter
0:52 No. 1 HELOC like checking account
2:13 No. 2 Skipping RRSP raise boosts
3:41 No. 3 Cosigning loans for kids
4:47 No. 4 RESP versus TFSA trap
6:10 No. 5 Rolling car leases forever
7:34 No. 6 Delaying estate planning
8:55 No. 7 Uncoordinated withdrawal strategy
10:15 No. 8 Bank protection products trap
11:28 No. 9 Timeshares and US property
12:46 No. 10 Burning bonuses on lifestyle
14:07 How to fix it now

Legal Disclaimer:
The content in this video is for general informational and educational purposes only. It does not constitute financial, tax, or investment advice. All figures referenced are sourced from publicly available data including the Canada Revenue Agency, Statistics Canada, the Bank of Canada, the Financial Consumer Agency of Canada, and major Canadian banks' published reports. Individual circumstances vary. Always consult a qualified financial adviser before making financial decisions. Maple Money With Nathan is not a licensed financial services provider.