Here's a thought the self employed millenials MUST consider NOW.  TFSAs and the GIS.  Kids, you need to top off your TFSA limit immediately with a growth portfolio, and stop paying into CPP.  Because the math is in your favour: you could retire with 6 figure income AND still collect GIS a few thousand a year.  If a married couple in their 20s put in their 10.5k/yr into TFSAs and nothing else, and they see an 8% return for 40 years, they will have $3.5M in 2057, which adjusted for inflation is still over a million and a half or more in cash.  With an aggressive withdrawal rate of about 8%/yr they can retire on 100k/yr (in today's money) because withdrawals and income from TFSA is completely untaxable.  Then they can also draw the GIS for a for more thousands a year, free.  Caveat is: might not be able to trust government to keep such programs in place (TFSA and GIS)

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