Whether your retirement is just around the corner, or you're planning early, it can be great fun imagining all the things you'll finally be able to do and see in your golden years.
Or it can leave you feeling overwhelmed about whether you'll have enough financial resources for that life stage. Don't work 40 years of your life to wake up and be financially disappointed. Start planning today
Start an RRSP
You can open a RRSP account if not started already. It is a government sanctioned registered program that allows you to save for your retirement. You are allowed to invest in a broad range of products within an RRSP, including GICs, mutual funds, segregated funds individual stocks and bonds. Read More
Start a TFSA (Tax Free Savings Account)
In order to provide additional saving choices to Canadians for retirement, Government of Canada recently launched Tax free Savings Account. TFSA is a type of registered savings account that allows taxpayers ages 18 and over to earn interest, other types of investment income and capital gains tax-free with flexibility to withdraw funds from the account. Read More
Segregated Funds
You by now have understood the importance of starting an RRSP. Questions remains which investment vehicle to choose. You want to take full advantage of Mutual Funds but are scared of the high volatility attached along with them. Well! Segregated funds is the perfect solution for all your Investment needs. Segregated (seg for short) funds like mutual funds are pooled investments. But the gurantees associated with Seg funds make them more attractive the mutual funds.
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Universal Life Policy
A Universal Life Insurance policy is something you shall consider at this stage. It can provide you combination of permanent life insurance protection with a flexible portfolio of investment options, customized to your financial needs and aligned with your risk tolerance. Read more
Long Term Care Insurance
Long-term care insurance is also something you might like to consider at this stage. It helps pay for the care you may need when you can no longer care for yourself due to chronic illness or cognitive impairment, Long Term Care Insurance pays a benefit to cover the cost of the medical services and support required to maintain day to day activities, when the insured can no longer perform 2 or more "Activities of Daily Living" (ADL's) or is cognitively impaired. Read more
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