A lot of people ask for the average registered retirement savings plan (RRSP) balance at 70, and it\u2019s clear why. It sounds like there\u2019s one clean number you can benchmark against. In reality, RRSP balances are wildly uneven, so the average gets pulled out of a smaller group with very large accounts.<\/p>\n
A better \u201cwhat\u2019s typical?\u201d anchor is the median. Right now, it seems the median value is about $100,000, meaning half are below that and half are above. That\u2019s why January matters. A strong January can be a nice psychological tailwind, but the real power of January is that it\u2019s the cleanest moment to tighten your 2026 income plan while you still have time to adjust contributions, asset mix, and withdrawal timing.<\/p>\n
Getting started<\/p>\n
If you\u2019re 70 and trying to catch up, you need to be blunt with yourself in the best way. The goal usually isn\u2019t to swing for some magical return, but reduce the odds of running out of money while smoothing your income. That starts with understanding your runway. If you have earned income, you can still contribute to your RRSP up to the end of the year you turn 71, and you also have the early-year RRSP deadline for the prior tax year. January is when you decide whether you\u2019re going to do one last serious contribution push, or pivot toward tax planning, spending discipline, and a focus on reliable total return.<\/p>\n
The next catch-up lever is less exciting, but it\u2019s often the biggest. At 70, your timeline is different than someone building wealth at 35, so you usually want fewer moving parts and fewer reasons to panic-sell. That means a portfolio built around dependable cash flow and boring resilience, not hype. <\/p>\n
Finally, at 70, you\u2019re either already drawing Canada Pension Plan (CPP) cash and Old Age Security (OAS), or you\u2019re making final decisions around them. This is also when you start thinking about the mechanics you will soon need to address: your RRSP will need to convert into a Registered Retirement Income Fund (RRIF) by the end of the year you turn 71. So January is the right time to map out what your first few years of withdrawals could look like.<\/p>\n
FTS<\/p>\n
That\u2019s where Fortis (TSX:FTS<\/a>) can make practical sense in an RRSP for a 70-year-old who\u2019s prioritizing income and stability. Fortis is a regulated utility, so the business is more about executing a capital plan, growing the regulated rate base, and earning approved returns. In its third quarter of 2025, Fortis reported earnings that were steady rather than flashy, with reported earnings per share (EPS) of $0.81 and adjusted EPS of $0.87. For a retiree, that kind of steadiness matters.<\/p>\n