Month: November 2025

Somewhere around 50, money starts to mean something different. It’s not just about paying bills or saving for “someday” anymore it’s about understanding what your money can do for you right now, and how it can support the next chapter of your life.

And here’s a reality worth planning for: Canadian women live about four years longer than men. So, chances are, you’ll be the one in charge of the remote, the finances, and everything in between. Planning for that extra time isn’t about being cautious; it’s about creating more choice and freedom in the years ahead.

Women are also taking the financial reins in record numbers. By 2028, women are expected to control $3.8 trillion in assets, nearly double what they held in 2019. With that kind of growth comes new opportunities, new decisions, and more women asking smart questions about how to make their wealth work for them.

Maybe you’ve gone through a big life change like a divorce, career shift, or the loss of a partner. Or maybe you’re finally ready to look at those accounts you’ve been “meaning to organize.” Whatever brought you here, this stage of life is about ownership.  You’ve done the work, raised the kids, juggled the jobs. Now it’s time to make sure your money is working just as hard as you are.

Get Clear on Your Finances

Before thinking about investments or retirement strategies, start with a simple question: what do you have, and where is it?

Gather your statements, log into your accounts (yes, even the one you forgot the password for), and list everything: RRSPs, TFSAs, pensions, savings, and insurance. It’s not glamorous, but it’s the foundation of every confident plan.

When you know what’s there, you can make decisions based on facts, not guesses.

Understand Your Investment Risk and Comfort Zone

Investing in your 50s is about balance. It’s about growth that supports your goals while still letting you sleep at night.

Your risk level should reflect your comfort, not someone else’s opinion. Maybe you’re fine with market ups and downs, or maybe you prefer steady, predictable growth. Either way, your plan should fit your life.

That’s why it’s important to look at how each investment actually works for you. The way your accounts are taxed, like RRSP vs TFSA, can affect your future income. And what you hold inside those accounts matters too. Being 100% in equities carries market risk, while being 100% in a GIC comes with inflation risk. The right mix depends on your goals, your timeline, and your comfort level.

Another reason to plan ahead: longevity means your money may need to last longer than you once thought. The goal is to make sure your wealth supports the lifestyle you want for as long as you need it to.

Update Key Financial Details and Beneficiaries

Paperwork isn’t exciting, but it’s empowering. Check your beneficiaries on every account and policy, especially if life has changed. Make sure your will and power of attorney reflect your current wishes. These steps don’t just keep things organized, they protect your future self and the people you love.

If you’ve been through a major transition like widowhood or divorce, this process can be grounding. It’s a way of saying, “I’ve got this,” and meaning it.

Find a Financial Advisor Who Understands Women’s Goals

Financial advice should feel like a conversation, not a lecture. The right advisor listens, explains, and helps you understand your options without jargon. 

If you’ve ever felt dismissed or talked over, you’re not alone. More women are taking ownership of their wealth and choosing advisors who treat them like partners, not passengers.

At Smith Rogers, we believe confidence grows from clarity. We help women take ownership of their money with honest advice, practical strategies, and a plan that fits where you are now and where you’re headed next.

Ready to take control of your financial future?

Whether you’re navigating change or simply want to feel more confident about your next chapter, we’re here to help. Get in touch with us to start building a financial plan that reflects your goals, your lifestyle, and your version of success.

If you’re one of the many Canadians who swaps shovels for flip-flops each winter, you’ve probably heard about the “182-day rule.” You’ve also probably heard five different versions of what it means.

Some say you can stay six months in the U.S. without issue. Others insist it’s 120 days. Then there’s your cousin who’s “never had a problem” and we all know how reliable that is.

So, what’s the real story? Let’s break it down before you pack your golf clubs and sunscreen.

The 182-Day Rule Explained

Spending 182 days in the U.S. in a calendar year can make you a U.S. resident for tax purposes. But that’s only part of the picture.

The IRS uses something called the Substantial Presence Test, which looks at how much time you’ve spent in the U.S. over the past three years, not just this one. Here’s how it’s broken down:

1. All the days you’re in the U.S. this year +
2. ⅓ of the days from last year +
3. ⅙ of the days from the year before that

If the total equals 183 or more, you could be considered a U.S. tax resident, even if you’ve never owned property or worked there. That’s where many snowbirds get caught off guard. You might only stay “four months a year,” but if you do that consistently, the math eventually adds up.

CRA vs. IRS: How Canada and the U.S. Track Residency Differently

The Canada Revenue Agency (CRA) and the U.S. Internal Revenue Service (IRS) don’t exactly compare notes, but they each have their own definition of “resident.”

CRA looks at your ties to Canada, your home, bank accounts, driver’s licence, health card, and where your family lives.

IRS focuses on your physical presence and that Substantial Presence Test math.

Here’s where it gets trickier: you can be considered a U.S. resident for tax purposes while still being a Canadian resident for tax purposes. Confusing? Yes. Manageable? With the right plan, absolutely.

And while the U.S. gets most of the attention, it’s not the only destination where time away matters. Whether you’re spending the winter in Portugal, or Florida the same Canadian residency principles apply.

What truly matters is how many days you spend outside Canada each year, because that can affect both your tax residency and your provincial health coverage.

Residency, OHIP and Tax Planning Checklist for Canadians 

Before you take flight, run through this quick checklist:

• Count your days. Track entries and exits,  both governments assume you are.
• Protect your OHIP. You must be in Ontario at least 153 days per year to maintain coverage (and you can’t “bank” extra days).
• Confirm your travel insurance. Most policies limit duration and conditions — read the fine print.
• Mind your mail. If the CRA writes while you’re away, “I was in Florida” isn’t a great excuse. Set up digital access or a trusted contact.
• Review your financial ties. Keep a Canadian address on key accounts and avoid moves (like opening U.S. credit cards) that signal U.S. residency.
• Plan your reporting. If you meet the Substantial Presence Test, file IRS Form 8840 to claim a “closer connection” to Canada.

These apply no matter where you travel. It’s not just about how long you spend in the U.S.  it’s about how long you’re away from Canada overall.

The goal is to keep your residency, coverage, and finances anchored at home while you enjoy your time abroad.

Why Expert Cross-Border Planning Matters for Canadian Snowbirds

We’ve been helping Canadians navigate snowbird rules long enough to know that no two travel plans, or tax situations, are the same. Between CRA definitions, IRS math, and shifting cross-border agreements, there’s plenty of room for confusion.

That’s why our process starts with understanding your full picture, residency, income, travel habits, then building a plan that keeps you compliant, covered, and confident while you chase the sun.

The goal isn’t just about avoiding paperwork; it’s about making sure your financial life works as smoothly in California (or Mexico) as it does here at home.

Heading south might be seasonal, but good financial planning lasts all year. 

If you want clarity on how your travel fits into the bigger picture, taxes, investments, retirement, and beyond, we can help. Send us a message to get started.