VIDEO
Retirement Income Planning
Clay Gillespie
Managing Director, Financial Advisor and Portfolio Manager
BBA CFP® CIM® CLU® FCSI TEP RRC FEA
I have been helping Canadians retire for over 28 years. The main difference between you and me is that you retire once and I help people retire every day. I have seen the good and the bad both emotionally and financially about retirement. I want to take this experience and help you retire comfortably and let you know how much income you can generate every year in retirement.
Clay Gillespie
Managing Director, Financial Advisor and Portfolio Manager
BBA CFP® CIM® CLU® FCSI TEP RRC FEA
I have been helping Canadians retire for over 28 years. The main difference between you and me is that you retire once and I help people retire every day. I have seen the good and the bad both emotionally and financially about retirement. I want to take this experience and help you retire comfortably and let you know how much income you can generate every year in retirement.
Clay Gillespie
Managing Director, Financial Advisor and Portfolio Manager
BBA CFP® CIM® CLU® FCSI TEP RRC FEA
I have been helping Canadians retire for over 30 years. The main difference between you and me is that you retire once and I help people retire every day. I have seen the good and the bad both emotionally and financially about retirement. I want to take this experience and help you retire comfortably and let you know how much income you can generate every year in retirement.
I grew up in South Surrey. I am married (Joanne) with two children (Sarah and Meagan). I have my undergraduate degree from Simon Fraser University. I am a big believer in education and sponsor scholarships at both UBC and SFU.
I have also written a book called “Create the Retirement You Really Want” The more we know the better decisions we make.
Industry Associations
Advocis – The Financial Advisors Association of Canada
CALU – Conference for Advanced Life Underwriting
CIFPs – The Canadian Institute of Financial Planners
FP Canada
IAFE – Institute for Advanced Financial Education
MDRT – Million Dollar Round Table
STEP – The Society of Trust and Estate Practitioners
BBA (Finance) – Simon Fraser University
CIM® (Chartered Investment Manager)
CFP® (Certified Financial Planner)
CLU® (Chartered Life Underwriter)
FCSI® (Fellow of Canadian Securities Institute)
RRC (Registered Retirement Consultant)
TEP (Trust and Estate Practitioner)
FEA (Family Enterprise Advisor)
Clay is a Portfolio Manager with CIRO in BC, AB and ON. He is a licensed insurance agent in BC, AB, SK and ON.
OUR TEAM
CLIENT STORY: LESLIE & ROB
The Mathematics
of Withdrawal
In this video you’ll learn how best to generate an income in retirement. Up until now, you’ve probably just been accumulating your money.
Ben is 61 years of age. Karen is 55 years of age. They are wondering what type of retirement lifestyle their current assets and pension entitlements will generate for them.
Peter is turning 71 years of age this year. He is wondering what his options are with his registered funds (RRSPs).
Should Peter and Angela continue to take out the minimum from their RRIFs or increase their income?
Joan is 60 years old. She is wondering if she can generate an after-tax income of $80,000 per year in retirement.
TAKE AWAYS
Advisor Insights
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Why Market Volatility Is Normal
By Clay Gillespie on 19 Jun, 2026
Over a typical 10-year period based on investment returns – you’re going to love us twice, hate us twice, and be indifferent to us six times. What this actually means is that over a 10-year period, the market typically goes up dramatically twice (the years you love us), goes down dramatically twice (the years you … Why Market Volatility Is Normal
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Why You Might Want to Start Your RRIF Before Age 71
By Clay Gillespie on 17 Nov, 2025
You must convert your RRSP into a Registered Retirement Income Fund (RRIF) or life annuity by December 31 of the year you turn 71. What many people don’t realize is that it can sometimes make sense to start a RRIF earlier. There is no minimum age to convert an RRSP to a RRIF. Once you … Why You Might Want to Start Your RRIF Before Age 71
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What Canadians Worry About as They Approach Retirement
By Clay Gillespie on 03 Nov, 2025
Retirement should be a time of freedom — a chance to do what you want, when you want, with the people you care about. Yet, for many Canadians, the years leading up to retirement bring more anxiety than excitement. Surveys consistently show that Canadians are increasingly worried about their financial future, and these worries go … What Canadians Worry About as They Approach Retirement
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Income in Retirement
By Clay Gillespie on 28 Jan, 2025
When it comes to retirement income planning, there is no perfect strategy or simple solution. Every individual’s situation is different and, as such, everyone will have a different strategy on how best to generate their required income in retirement. However, there are a few fundamentals that apply to everyone when designing a retirement income planning … Income in Retirement
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How Much Do I Need to Save to Generate an Income in Retirement?
By Clay Gillespie on 27 Jan, 2025
This is a complicated question with many variables. We will argue that what you really want to know is what your after-tax income will be over your expected lifetime. Stages of Retirement Spending There are three stages to retirement – the first stage is called the “Go-Go” stage, the second the “Slow-Go” stage, and the … How Much Do I Need to Save to Generate an Income in Retirement?
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How to Access Equity from Your Principal Residence during Retirement
By Clay Gillespie on 12 Apr, 2024
For many British Colombians, a large amount of their net worth is tied up in the equity of their principal residence. There are four main avenues to access this equity – all with some advantages and disadvantages
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Spending Patterns in Retirement
By Clay Gillespie on 08 Apr, 2024
There are three stages to retirement – the first stage is called the ‘Go-Go’ stage, the second the ‘Slow-Go’ stage and the third is the ‘No-Go’ stage.
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Total Return Investing Versus Income Investing in Retirement
By Clay Gillespie on 07 Apr, 2024
There are two main approaches to generating an income. The first is called income investing; this is implemented by focusing on the yield of the underlying investments to generate your desired income (specifically dividend and interest income).
-
Longevity and Life Annuities
By Clay Gillespie on 28 Jul, 2022
A couple of questions we commonly get asked are “What is a life annuity?” and “Should I consider a life annuity in my situation?”
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What does Life Expectancy Actually Mean?
By Clay Gillespie on 04 Mar, 2022
Life expectancy is one of the most misunderstood aspects of retirement income planning – yet, it is one of the most important factors. Most people assume that life expectancy is the same as lifespan. This is not correct. Instead, life expectancy is a median number of years – such that 50 percent of a particular … What does Life Expectancy Actually Mean?
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Government Benefits
By Clay Gillespie on 16 Dec, 2021
There are two main types of government pensions that most Canadians can expect to receive during their retirement years: Old Age Security (OAS) and the Canada Pension Plan (CPP).
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The Ins and Outs of Estate Planning
By Clay Gillespie on 23 Apr, 2020
Estate planning is the process of arranging one’s affairs while minimizing administrative burdens, costs, and income tax upon death.
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A Message Regarding COVID-19
By Clay Gillespie on 17 Mar, 2020
Due to the recent COVID- 19 situation, we are taking every precaution to ensure we are following the guidance of the BC Ministry of Health to protect the health of our clients and employees.
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What are the major risks when planning your retirement?
By Clay Gillespie on 14 Aug, 2019
To design an effective retirement planning strategy, you need to understand some of the variables involved: 1) life expectancy, 2) inflation, 3) how much income is needed 4) stock market risk and 5) health care costs. Life expectancy is one of the most misunderstood aspects of retirement income planning yet it is one of the … What are the major risks when planning your retirement?
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What does Life Expectancy Actually Mean?
By Clay Gillespie on 27 Apr, 2018
Life expectancy is one of the most misunderstood aspects of retirement income planning – yet, it is one of the most important factors.
Your retirement
Are you Ready to Retire?
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Chapter 3
By Clay Gillespie on 19 Jan, 2018
Can I afford to retire? It was a beautiful May morning when I next saw Rachel and Mike. Rachel was carrying a large gift-wrapped box. “This is for you,” she said, smiling and handing the box to me. “Thank you,” I said, pleasantly surprised.
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Chapters 1 and 2
By Clay Gillespie on 19 Jan, 2018
I wrote this book for one simple reason: to help Canadians retire smarter, richer and happier. Over the years, I’ve had the pleasure of meeting many hard-working people from all walks of life, and far too many of them wonder if they can ever afford to retire.
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From Dreams to Legacy: New book Details the 5 Stages of Retirement
By Jonathan Chevreau on 19 Jan, 2018
While some may regard retirement as a key moment in their financial journey, it’s not an event but a process, says veteran financial advisor Clay Gillespie in a new book.
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Why Market Volatility Is Normal
By Clay Gillespie on 19 Jun, 2026
Over a typical 10-year period based on investment returns – you’re going to love us twice, hate us twice, and be indifferent to us six times. What this actually means is that over a 10-year period, the market typically goes up dramatically twice (the years you love us), goes down dramatically twice (the years you … Why Market Volatility Is Normal
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Your Savings Options Explained: RRSP, TFSA, and FHSA
By Ryan Gee on 21 Apr, 2026
Let’s set the scene. It is the end of the day, and you are now finally able to relax for the evening. As you sit down on your cozy couch in your living room to relax, your brain starts to ponder your mental to-do list. You have managed to set aside some extra cash throughout … Your Savings Options Explained: RRSP, TFSA, and FHSA
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Smart Wealth Transfer to Adult Children: Using FHSAs, TFSAs, and RESPs
By Cecilia Tsang on 30 Jan, 2026
For many families, supporting the next generation is a core financial value. Parents and grandparents often want to help their adult children (or grandchildren) get ahead, whether that means saving for a first home, investing early for long-term growth, or reducing the burden of education costs. The challenge? Doing so strategically, tax-efficiently, and without triggering … Smart Wealth Transfer to Adult Children: Using FHSAs, TFSAs, and RESPs
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Redefining Retirement
By Tara Ennevor on 17 Jul, 2025
For decades, retirement was seen as a finish line – a moment when work stopped and leisure began. But it’s no longer a one-size-fits-all concept. As one client said to me when looking toward retirement, “I am figuring out what I want to do when I grow up.” As financial advisors, we’re seeing retirement take … Redefining Retirement
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Case Study: Optimizing Retirement Income and Estate Planning for Multi-Generational Support
By Linson Chen on 29 Apr, 2025
Jack (age 75) and Jill (age 62) are a retired couple with three children and six grandchildren. They’ve built a strong foundation with more than $2.9 million in investments, a mortgage-free home, and a solid pension plan paying $50,000 per year. They are looking for a plan to help their children without jeopardizing their own … Case Study: Optimizing Retirement Income and Estate Planning for Multi-Generational Support
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How Much Do I Need to Save to Generate an Income in Retirement?
By Clay Gillespie on 27 Jan, 2025
This is a complicated question with many variables. We will argue that what you really want to know is what your after-tax income will be over your expected lifetime. Stages of Retirement Spending There are three stages to retirement – the first stage is called the “Go-Go” stage, the second the “Slow-Go” stage, and the … How Much Do I Need to Save to Generate an Income in Retirement?
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Case Study – When to Start Receiving OAS Benefits
By Bryn Hamilton on 14 Jul, 2024
Government benefits are often an area that gets confusing for Canadians as they plan for retirement.
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Discovering What’s Next: Navigating the Transition through Retirement
By Susan Phelan, MA (ABS) on 12 Jul, 2024
Retirement isn’t a one-size-fits-all experience. In today’s dynamic world, it’s more of a gradual transition than a sudden event.
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The Importance of Retirement Income Projection
By Chris Eynon on 11 Jul, 2024
As retirement approaches, ensuring financial stability becomes a priority. One crucial aspect of this preparation is creating a retirement income projection.
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Defined Benefit Pension Plans
By Bryn Hamilton on 14 Apr, 2023
Do you contribute to a defined benefit pension plan?
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Pumping the brakes
By Christian White on 15 Mar, 2023
When the economy is overheated and asset prices are inflated, pulling the interest rate strings is the economic definition of pumping the brakes.
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Longevity and Life Annuities
By Clay Gillespie on 28 Jul, 2022
A couple of questions we commonly get asked are “What is a life annuity?” and “Should I consider a life annuity in my situation?”
Resources
Retirement
-
Why You Might Want to Start Your RRIF Before Age 71
By Clay Gillespie on 17 Nov, 2025
You must convert your RRSP into a Registered Retirement Income Fund (RRIF) or life annuity by December 31 of the year you turn 71. What many people don’t realize is that it can sometimes make sense to start a RRIF earlier. There is no minimum age to convert an RRSP to a RRIF. Once you … Why You Might Want to Start Your RRIF Before Age 71
-
What Canadians Worry About as They Approach Retirement
By Clay Gillespie on 03 Nov, 2025
Retirement should be a time of freedom — a chance to do what you want, when you want, with the people you care about. Yet, for many Canadians, the years leading up to retirement bring more anxiety than excitement. Surveys consistently show that Canadians are increasingly worried about their financial future, and these worries go … What Canadians Worry About as They Approach Retirement
-
Income in Retirement
By Clay Gillespie on 28 Jan, 2025
When it comes to retirement income planning, there is no perfect strategy or simple solution. Every individual’s situation is different and, as such, everyone will have a different strategy on how best to generate their required income in retirement. However, there are a few fundamentals that apply to everyone when designing a retirement income planning … Income in Retirement
-
How Much Do I Need to Save to Generate an Income in Retirement?
By Clay Gillespie on 27 Jan, 2025
This is a complicated question with many variables. We will argue that what you really want to know is what your after-tax income will be over your expected lifetime. Stages of Retirement Spending There are three stages to retirement – the first stage is called the “Go-Go” stage, the second the “Slow-Go” stage, and the … How Much Do I Need to Save to Generate an Income in Retirement?
-
Spending Patterns in Retirement
By Clay Gillespie on 08 Apr, 2024
There are three stages to retirement – the first stage is called the ‘Go-Go’ stage, the second the ‘Slow-Go’ stage and the third is the ‘No-Go’ stage.
-
Total Return Investing Versus Income Investing in Retirement
By Clay Gillespie on 07 Apr, 2024
There are two main approaches to generating an income. The first is called income investing; this is implemented by focusing on the yield of the underlying investments to generate your desired income (specifically dividend and interest income).
-
Longevity and Life Annuities
By Clay Gillespie on 28 Jul, 2022
A couple of questions we commonly get asked are “What is a life annuity?” and “Should I consider a life annuity in my situation?”
-
What does Life Expectancy Actually Mean?
By Clay Gillespie on 04 Mar, 2022
Life expectancy is one of the most misunderstood aspects of retirement income planning – yet, it is one of the most important factors. Most people assume that life expectancy is the same as lifespan. This is not correct. Instead, life expectancy is a median number of years – such that 50 percent of a particular … What does Life Expectancy Actually Mean?
-
The Ins and Outs of Estate Planning
By Clay Gillespie on 23 Apr, 2020
Estate planning is the process of arranging one’s affairs while minimizing administrative burdens, costs, and income tax upon death.
-
What does Life Expectancy Actually Mean?
By Clay Gillespie on 27 Apr, 2018
Life expectancy is one of the most misunderstood aspects of retirement income planning – yet, it is one of the most important factors.
-
Estate Planning Is Not Just For the Rich
By Clay Gillespie on 16 Feb, 2018
What does estate planning actually mean? Estate planning is just making sure that your assets pass to the next generation in the most efficient and tax-effective manner possible.
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Is a TFSA better than an RRSP?
By Clay Gillespie on 08 Feb, 2018
Before we attempt to give our insights on this argument, let us do some math to set the stage for the discussion.
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Chapter 3
By Clay Gillespie on 19 Jan, 2018
Can I afford to retire? It was a beautiful May morning when I next saw Rachel and Mike. Rachel was carrying a large gift-wrapped box. “This is for you,” she said, smiling and handing the box to me. “Thank you,” I said, pleasantly surprised.
-
Chapters 1 and 2
By Clay Gillespie on 19 Jan, 2018
I wrote this book for one simple reason: to help Canadians retire smarter, richer and happier. Over the years, I’ve had the pleasure of meeting many hard-working people from all walks of life, and far too many of them wonder if they can ever afford to retire.
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2016 Horizons Report
By Clay Gillespie on 01 Jul, 2016
We are pleased to present the results of the 2016 Horizons Retirement Report. This report summarizes the dreams, fears, hopes and challenges of Canadians planning to retire within the next 3 to 7 years.
RESOURCES
Additional Services
Insurance
For supplementary insurance needs in the areas of extended health & dental and travel, we are pleased to offer two convenient, easy-to-use, web-based plans.
If you are not already covered by a group health plan or wish additional coverage, the Manulife Flexcare®/Follow Me TM health plans may be of interest to you.
Click here for your health/dental insurance needs. You will be directed to Manulife’s website where you can:
‐ learn more about their plans
‐ obtain a quick quote
‐ apply for coverage
Protect Your Travels with Comprehensive Insurance from Manulife and Allianz
Traveling out of province or abroad can lead to unexpected medical expenses. Ensure peace of mind with comprehensive travel insurance plans from Manulife and Allianz, tailored for both leisure and business travelers.
Manulife Travel Insurance
Manulife offers a wide range of coverage options for snowbirds, seniors, students, and visitors to Canada. Their plans cover emergency medical expenses, trip cancellations, and interruptions, allowing you to travel confidently.
Allianz Travel Insurance
Allianz provides affordable and comprehensive travel insurance plans that cover trip cancellations, emergency medical expenses, and more. They offer 24/7 assistance and a worldwide network of prescreened hospitals to ensure you receive the right care when needed.
For your travel insurance needs:
Visit Manulife’s website to explore plans, get a personalized quote, and apply for coverage.
Visit Allianz’s website to get a quote, compare plans, and buy online instantly.
For any questions, Manulife and Allianz experts are available to assist you.
RESOURCES
Mortgages and Debt Management
Mortgage and debt management is an important element of your financial plan.
We work with Pilot Mortgage Group to make your mortgage process simpler.
Pilot Mortgage Group is one of the top mortgage brokerage companies in Canada. They work with over 50 different lenders to secure the best mortgage financing for your specific needs. Pilot also has a large emphasis on ongoing mortgage management that ensures your mortgage remains the right fit.
Should you wish to get started with Pilot, you can start on the online application below or speak with our advisory team to hear more about how they may be able to help you with your upcoming financing needs.