Customized Retirement Tips1 in Two Steps
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Your Results
Currently retired with less than $100,000 in savings
Based on what you’ve told us, we’ve put together some tips to maximize your retirement income.
If you’re semi-retired or retired, here are some things to keep in mind:
- It’s a good idea to understand your retirement expenses and any debt you may have. Look at both the necessities, as well as the nice to haves such as travel, or supporting a family member financially.
- Start to think about whether it makes sense for you to take your CPP payments early, or alternatively, to defer them to a later age to increase your benefits.
- Look at your debt payments to ensure you are paying the least amount of interest possible and have a plan to become debt free.
- Take stock of all the financial resources you have, including assets like your home, to create your future retirement income.
We can help you determine the right strategies for your retirement needs.
Your Results
Currently retired with $100,000 and more in savings
Based on what you’ve told us, we’ve put together some tips to maximize your retirement dollars – and define retirement on your terms.
As you enjoy your years in retirement, here are some things to keep in mind:
- If you are looking for tax savings ideas: consider CPP/QPP benefit sharing or split eligible pension income with the lower income spouse.
- Consider contributing any spare funds to a Tax Free Savings Account. A TFSA is an excellent way to continue saving and investing tax-free for that trip or dream purchase you’d like to make.
- Remember, retirement planning doesn’t just stop because you’re retired! Talk to your Advisor about other ways you can maximize your retirement income.
We can help you determine the right strategies for your retirement needs.
Your Results
Retiring in less than 5 years with less than Less than $100,000 in savings
Based on what you’ve told us, we’ve put together some tips to maximize your retirement income.
As your retirement is approaching, you still have some time to maximize your resources to be ready for your retirement years.
- It’s a good idea to understand your retirement expenses and any debt you may have. Look at both the necessities, as well as for the nice to haves such as travel, or supporting a family member financially.
- Start to think about whether it makes sense for you to take your CPP payments early, or alternatively, to defer them to a later age to increase your benefits.
- Look at your debt payments to ensure you are paying the least amount of interest possible and have a plan to become debt free.
- Take stock of all the financial resources you have, including assets like your home, to create your future retirement income.
We can help you determine the right strategies for your retirement needs.
Your Results
Retiring in less than 5 years with $100,000 and more in savings
Based on what you’ve told us, we’ve put together some tips to maximize your retirement income – and define retirement on your terms.
As your retirement is approaching, you have some time to create a well-thought out plan for your future, while having a good idea of how much you’ll have. Here are some things to consider to ensure you can make the most of your retirement years.
- Think about what you want your retirement to look like—the necessities and the nice to have. Even though your ideas may change down the road, having a picture is a good starting point to help you build your retirement plan.
- Take stock of all the financial resources you will have to create your future retirement income. Think about all your sources of income including government pensions, your savings and any other assets.
- Look at strategies to minimize your taxes such as contributing to a TFSA. Also, if you have unused RRSP contribution room, see if a catch up loan makes sense for you.
We can help you determine the right strategies for your retirement needs.
Your Results
Retiring in 5 and more years with less than $100,000 in savings
Based on what you’ve told us, we’ve put together some tips to maximize your retirement dollars – and define retirement on your terms.
It’s never too early – or too late – to shape and sharpen your retirement plan. As you think about your plans for your future, here are some ideas for you to consider.
- Start thinking about where you will live in retirement, and how you will spend your time. Plan for the necessities, as well as for the nice to haves such as travel, a move, or helping a family member financially.
- Take stock of all the financial resources you will have to create your future retirement income and consider making use of all available options to save – such as TFSAs and RRSP catch up loans.
- If you are saving up for retirement keep paying yourself first - even if it’s small amounts regularly - to build your retirement savings.
We can help you determine the right strategies for your retirement needs.
Your Results
Retiring in 5 and more years with $100,000 and more in savings
Based on what you’ve told us, we’ve put together some tips to maximize your retirement dollars – and define retirement on your terms.
As your retirement is still several years away, you’re in a great position now to create a realistic and well thought-out plan for your future. Here are some things to consider to help you balance your financial needs of today with your retirement goals of tomorrow.
- Take stock of all the financial resources you will have to create your future retirement income. If you have unused RRSP contribution room, see if a catch up loan makes sense for you.
- Look at strategies to minimize your taxes such as contributing to a TFSA.
- Review your current plan to ensure your family and your lifestyle are protected from uncertainties such as job loss or disability; if you haven’t already prepared Wills and Powers of Attorney, there is no time like the present!