If you are retiring with a pension, it will help. If you are married and your spouse is working that helps. But, you are still going to notice the lack of regular income unless you move directly into some type of employment.

If you are a person who is out of the military and working, you very likely will need additional cash if you suddenly become unemployed. If you are leaving the military, you need to realize – BEFORE – you leave that your pension may / may not cover your living expenses while you are out developing that new career.

If you are not saving, start today. Every person can find a few extra dollars to put away if they look hard at their financial situation. Even the smallest amount can make a difference.

Many experts will tell you that you need a cushion to fall back on and supplement your income while searching for that desired job in the industry of your choice. Most will tell you that it takes at least six months of income. Many will tell you that it takes a year of income that is reachable in event of unemployment through political, environmental, or financial downsizing.

Do you have that money available? Do not plan to use your RRSP money unless it is very, very necessary. To remove that money creates tax implications. It also becomes very difficult to replace those funds. Especially difficult is replacing the growth that you have been fortunate enough to experience in those investments over the past years.

Put some money aside. The more you have in your war chest the better. It WILL make a big difference in the future should you need it.