Retirement Planning
Start planning early
Did you know that the median value of retirement assets of Canadians age 55 to 64 is just over $3000? Many individuals lack a solid retirement plan and have neglected to save during their working years, so it is not surprising that they will not have sufficient savings for a stable retirement income. It is important to plan for your retirement as early as possible to ensure a good standard of living during your retirement years.
Accumulating enough savings
Just saving a couple hundred dollars per month can help you accumulate a large portion of assets upon retirement. Our advisors will help you choose the most appropriate investment strategies and calculate how much you need to set aside now to reach your retirement goals.
Learning about government benefits
It is important for you to be aware of the eligibility requirements for government benefits such as the Old Age Security and the Guaranteed Income Supplement. Having a clear idea of your retirement income and expenses is vital as you do not want to outlive your retirement savings.
RRSP withdrawal methods
You’ve purchased RRSPs almost every year to deduct your income, but how should you plan to withdraw them? Every dollar is taxed as income upon withdrawal, and will directly deduct your Guaranteed Income Supplement. There are tax efficient ways drawdown your RRSPs, allowing you to transfer your assets to a non-registered investment.
Meet with us today
Our advisors will analyze your situation, while providing advice to help you meet your retirement goals through maximizing government benefits, minimizing taxes, and selecting suitable investment strategies. Contact us now.