Good morning. Thanks to the dozens of you who replied last week with thoughtful ideas for this newsletter. I was also surprised (and impressed) by how many of you already have regular no-spend days after I suggested it as your weekly challenge. More on that below, but first: what does the skilled trades shortage have to do with your retirement planning?

Canada is staring down a major demographic shift: nearly 700,000 skilled tradespeople are expected to retire by 2030. In another retirement-related issue for the country, many Canadians, of all ages, say they feel financially unprepared for this life chapter.

A program from Meridian Credit Union is attempting to tackle both problems at once.

In a new partnership with Building Up, a Toronto-based enterprise that helps people facing barriers to employment build careers in the skilled trades, Meridian’s Reframe initiative combines hands-on trades training with financial coaching. The program is designed to address Ontario’s skilled labour shortage and housing affordability crisis.

Launched in Barrie last year and now expanded to the Greater Toronto Area with the new partnership, the program is in high demand. More than 4,000 people applied for just 100 spots in the latest round.

Participants spend eight weeks in a classroom learning carpentry and construction basics, followed by eight weeks of paid, on-site training. Alongside technical skills, they have access to personalized financial coaching, plus help building résumés and preparing for job interviews.

I spoke with Summer Xu, 32, who moved to Toronto from China last fall and struggled to find work. Through Reframe, Xu got access to training, paid work, and financial coaching. Xu’s now preparing to start a pre-apprenticeship in industrial machinery and equipment at Sheridan College at its Brampton campus in July.

“Before the program, I couldn’t save anything. I used to walk two hours to get somewhere because I couldn’t afford transit,” Xu said. “Now, I feel safe, physically and mentally.”

“If you know how to budget, how to plan, how to get access to money, what happens with your credit score, you’re going to be much more successful,” said Jay-Ann Gilfoy, CEO of Meridian Credit Union.

It’s never too early (or too late) to build those financial skills.

The great wealth transfer is coming … but not equally. According to Fidelity Canada’s 2025 Retirement Report, the size of inheritances Canadian retirees expect to leave behind varies dramatically by region.

By the numbers: Millennials and Gen Zers living in British Columbia can expect the highest payout, with retirees in that province expecting to pass on $1.35-million. That’s compared with $330,000 in Quebec and $250,000 in the Atlantic Region.

What’s driving the difference? Real estate, mostly. The provinces with the highest home prices, such as B.C. and Ontario, have the highest anticipated windfall amount from retirees. Owning a home remains a key factor in how much wealth older Canadians can pass down.