Came across a few encouraging thoughts on saving for and living in retirement this past week.

To begin with, BMO reports that property tax deferral programs for seniors can free up more cash from your retirement income sources by allowing you to put off paying a portion of property taxes till a later date, such as when you sell your home.

“It’s a great way for seniors to take advantage of the equity they have built in their homes and create more cash flow during their retirement years,” says Chris Buttigieg, Senior Manager, BMO Wealth Planning Group, BMO Financial Group.

In Ontario, homeowners over the age of 65 can defer paying any increases in property taxes; however, they are still required to pay the base amount.

And a recent book by Fred Vettese and Bill Morneau, senior executives with Morneau Shepell – Canada’s largest administrator of pension and benefits plans – paints a rosier image of financial needs in retirement than we’ve been hearing elsewhere. Real Retirement: Why You Could Be Better Off Than You Think, and How To Make That Happen suggests that most people can get by quite well on half their pre-retirement income, rather than the 70 percent often cited.

“The real target can’t be 70 percent for real Canadians,” Vettese told Benefits Canada. “Most households operate on half of their gross income, so why do they need 70 percent?”

And while our longer lifespans have led some to predict we’ll outlive our retirement savings, the authors point out that staying healthier longer needn’t mean that. “People are healthier,” Morneau told Benefits Canada, “So they can work longer.”