Erven Planning Retirement Planning
It’s never too early to start retirement planning. Most people consider putting money aside for retirement when they reach middle age as it begins to loom large in their future. However, a better way to plan is to decide what you want to do during retirement and then figure out how much money you will need to support that lifestyle. It can be a daunting task, but an Erven Planning advisor can help you through it.
To begin your retirement planning, ask yourself these questions:
- When do I want to retire?
- What do I want to do in retirement?
- What is important to me?
- What will I need in retirement?
- What kind of lifestyle do I want in retirement?
- Does my job allow me to work up to retirement?
- What responsibilities will I have during my retirement?
By really thinking about these questions you can work out the financial realities of retirement, figure out what you want and start the right program that means you don’t have to make too many sacrifices when the time comes.
Planning for retirement is planning for your lifestyle. We can help you anticipate the life events that can happen during retirement and develop a portfolio of financial products to manage the costs of these life events. We can help you understand the performance expectations of these products and how they will impact your quality of life when you retire.
Some of the products we can talk about are:
- Registered Retirement Savings Plan (RRSP)
- Canada Pension Plan (CPP)
- Retirement Savings Plan (RSP)
- Old Age Security (OAS)
- Tax-Free Savings Account (TFSA)
- Company Pension Plan
- Stock Options, etc.
One of the companies that we work closely with, Sun Life Financial, has a great website called Brighter Life that helps you understand a little more about saving for retirement, but we can go through this with as we work through your personalized retirement planning.
All of these plans need to be managed to maximize the benefit paid to you when they mature.
At Erven Planning, we have the knowledge, expertise, and products to help make your financial journey a success – ask us!