Planning for Retirement

If you are like most people, you are probably under the impression that retirement planning is something that you do when you’re nearing the age of 65. When retirement is 20 or 30 years away, it’s easy not to think about it – especially when you have a mortgage to pay.

The key to avoiding the stress involved with retirement planning is to start early.

You are the person best suited to decide how to prepare for your retirement. With the help of a good investment advisor, you can design a retirement package for yourself that you will be able to enjoy!

You should try to figure out a few key things about your retirement, starting with your income requirements. Then, determine sources of income and benefits. Remember to look at government programs and any pension plans you have through your employer.

Next, establish an investment strategy to accumulate the necessary funds. For Canadians, retirement income generally comes from three sources: Government programs (Old Age Security, Canada Pension Plan, Quebec Pension Plan for people living in Quebec); employer sponsored pension plans; and personal savings (RRSP). With the uncertainty of government programs, many people are also considering post-retirement part-time work as a way of contributing to their income.

By contributing to a Registered Retirement Savings Plan (RRSP) every year, you pay less tax now, and are preparing an income to help you enjoy your retirement. Having an RRSP could mean the difference between just getting by, and having the finances to live out your dreams.

Retirement is your reward.

We have attached a link to the following Canadian Retirement Income Calculator which should help you on the road to achieving your retirement objectives.