Suze Orman says stop obsessing over your retirement number — start with these small, consistent moves and make them a habit

A survey released by the Healthcare of Ontario Pension Plan (HOOPP) found that 36% of Canadians have no savings or under $5,000 worth of savings (3). That startling shortfall lies in the shadow of other reports that suggest Canadians believe they need an average of $1.42 million to retire comfortably (4) — a figure that’s risen by about $500,000 from similar reports released in 2005.

Elsewhere in the HOOPP survey, 66% of unretired Canadians say they expect to keep working in retirement just to support themselves. Furthermore, the cost of daily living was the top concern for 67% of Canadians.

Meanwhile, FP Canada’s 2025 Financial Stress Index found that money remains Canadians’ primary source of stress (5). Unfortunately for many, that anxiety takes a mental toll: More than half of Canadians (55%) say they’ve experienced a negative impact on their lives due to financial stress, including anxiety, depression and reduced productivity at work.

And it’s not only retirement that keeps Canadians up at night. When it comes to emergency preparedness, an Angus-Reid survey found the majority of Canadians under 55 say they couldn’t absorb an unexpected expense of more than $1,000 (6). Additionally, more than half (56%) worry that any surprise bill — a broken furnace, a dental emergency, a car repair — would force them into debt or paying with a credit card (7).

Orman is known for her tough-love approach to money, so you might expect her to advise people to buckle down and sacrifice more. Instead, the finance guru recommends a more Zen approach — one firmly grounded in the present.

A zen approach to financial anxiety

It starts with what Orman calls a form of financial meditation.

“Whenever you feel financial stress, slow down and literally focus on taking a few slow and deep breaths,” she advises in her blog post. “Remind yourself you have what it takes to work toward the financial future you deserve.”

She encourages people to break down long-term financial goals into “small steps, not Olympic jumps.”

For example, rather than fixating on an overwhelming retirement savings goal, she recommends putting money aside weekly, or from each paycheque. The advantage of this slow and steady approach is that progress becomes visible and measurable.

“Any week or paycheque where you manage to put some money in savings, or contribute to a retirement savings plan, or pay down some credit card debt, is a victory,” she wrote.

Orman has personal experience with this approach: She once lived paycheque to paycheque while working as a waitress (8). But behavioural science backs her up: Researchers at the University of California and Cornell University found that people are four times more likely to start a savings program with a financial technology app when the required deposit is $5 a day rather than $150 a month (9).

The takeaway: Starting small isn’t a compromise — it’s the strategy.

Automate your savings to free your mind

Orman has another tool for the anxiety-addled: Automate your savings so you never have to make the decision.

“Technology is your friend here,” she writes.

In Canada, automation is easier than ever. Most major banks and credit unions allow clients to set up pre-authorized contributions (PACs) — automatic withdrawals from a chequing account into a Registered Retirement Savings Plan (RRSP), a Tax-Free Savings Account (TFSA) or a non-registered investment account.

For 2026, the RRSP contribution limit is 18% of the previous year’s earned income, up to a maximum of $33,810 (10). The dollar limit for a TFSA in 2026 is $7,000 (11). Both accounts can be funded through automated contributions with a deposit as low as $25 — and many Canadian robo-advisors, such as Wealthsimple and Questrade Portfolio IQ, make it simple to set recurring investments without lifting a finger.

Orman’s advice also applies to emergency savings. Many Canadian employers offer group savings programs through payroll deductions. Alternatively, most banks allow clients to schedule automatic transfers from a chequing account into a high-interest savings account (HISA) or a TFSA specifically intended for emergencies.

When you focus on what you can automate today, you may have a little less to worry about tomorrow.

What Canadians can do right now

The main takeaway from Orman’s advice is this: Take small, consistent steps and let automation do the heavy lifting — here’s where you can start:

Set up a PAC for your RRSP or TFSA. Contact your bank, credit union or robo-advisor and schedule an automatic weekly or monthly contribution, even if it’s only $25. Small, regular deposits compound over time — and automating deposits removes the anxiety of remembering to do it yourself.

Build your emergency fund first. Before maximizing your RRSP, make sure you have at least one to three months of essential expenses in a TFSA or HISA. Financial planners generally recommend having that buffer set aside. The TFSA is an ideal account because it’s easily accessible: Withdrawals are tax-free and there’s no penalty.