The old adage, “A penny saved is a penny earned” is usually attributed to American statesman Benjamin Franklin. But he made the comment in the 1700s, at a time when income tax didn’t exist and inflation was minimal.

For most clients these days, a penny (OK, let’s make it a loonie) saved is worth a lot more than a loonie earned. After all, there’s a good chance they will pay 25% to 50% in taxes on each dollar they make. And that loonie is also subject to the steady erosion of inflation.

This month’s Global View offers observations on how clients can stretch the money they already have to get the retirement they want.

Retirement is scarier when you’re on the outside looking in. Writing for the Globe and Mail, Ian McGugan explores the fact that although only 45% of pre-retirees feel confident in their financial future, 63% of those who’ve already retired are optimistic. Among his five commandments for a smarter, better retirement (subscription required): “You shall not fear” and “You shall live on less – and like it.”

Aim for predictability. Lisa Brown’s article on offers five tips to decrease the risk that you’ll run out of money in retirement, from purchasing long-term care insurance to buying annuities and building up your emergency fund.

Everyday cost savings count. This U.S. News slideshow by staff writer Emily Brandon offers 10 tips to keep costs in check in retirement (most apply in Canada too). Meanwhile, Catherine Alford, writing for Wallet Hacks, takes on how to save hundreds on grocery bills. And, in Money, Jennifer Calfas looks at the importance of comparison shopping for big-ticket expenses such as car insurance.

By all means travel, but travel with a budget. Many clients dream of whiling away their golden years exploring the world. Although they may have the time to wander, budgets may be tighter. This Huffington Post article by the staff of offers five tips to make slow travel affordable in retirement, from house sitting to repositioning cruises.