At every stage of life, there is a reason to wait. A reason why right now is not quite the right moment to start putting money away, building coverage or thinking about what comes next. The trouble is, those reasons do not stop coming. They just change shape.
This is the story of five very common seasons of life, and why the reasons to wait always seem reasonable in the moment.
Your 20s: Just Getting Started
In your twenties, the thinking often sounds like this: there is plenty of time ahead, income is still growing and a little freedom while you are young seems fair. The idea is to wait until things stabilize before doing anything serious about saving.
The catch is that time in these years is actually the most valuable financial resource you have. Money set aside in your twenties has decades to grow. Every year spent waiting is a year of compounding that cannot be recovered later.
Your 30s: A Growing Family
By your thirties, the priorities shift. There may be children, a mortgage and a household budget that feels stretched no matter what. The reasoning becomes: once the kids are older, costs will come down, and that is when saving will start in earnest.
But families tend to stay expensive in different ways at every stage. And the added responsibility of children is actually one of the strongest reasons to have protection in place, not a reason to defer it.
Your 40s: Tuition and Peak Expenses
For many people, their forties feel like the most expensive decade of all. Post-secondary costs for children, aging parents, career pressures and a mortgage that still has years left. The plan is to get through this stretch first.
This is also often the stage where health changes begin to show up. Waiting to secure coverage until after a health event means the options may be far more limited, or unavailable altogether.
Your 50s: Almost There
In the fifties, the finish line feels visible. There is an awareness that savings should have started earlier, but a sense that there is still a chance to make something work. The focus shifts to getting through the final working years and hoping for the best.
The reality is that every year of coverage or savings skipped in earlier decades cannot simply be added back. Starting later means contributing more to achieve less.
Age 65: The Moment That Changes Everything
Age 65 arrives, often with less in place than expected. A modest Canada Pension Plan benefit, reduced flexibility and a partner whose health may require additional support. The reflection is almost always the same: a wish that things had started sooner.
The hard truth is that there never was a perfect time. There was only the time that was available.
The Only Moment That Actually Exists
Each of these stages is real, and none of the challenges described are invented. Life is genuinely expensive and genuinely busy at every age. But the pattern is worth recognizing: the reason to wait always feels valid until it is too late to act on the reasons to start.
Starting small, starting now and adjusting along the way is almost always better than waiting for circumstances that may never arrive.
Sources:
- Canada Pension Plan Overview – Government of Canada
- Sources of Retirement Income – Government of Canada
This content is provided for general informational purposes only. It is not intended to provide investment, tax, or legal advice, and should not be relied upon as such.