Where emotions and money meet
We like to keep a close eye on our investments. While we know a fair amount about the stock market and the fundamentals of saving and investing, we want to improve our financial situation by examining our retirement readiness.
Am I emotionally ready to retire?
Being financially prepared for retirement is only part of the equation. Paying attention to your emotions and maintaining an open line of communication with the people you trust most — your family, close friends and professional advisors — is the other part.
What will you do to stay happy and engaged in retirement? It’s a crucial question to consider and your answer may have an impact on your finances as well.
Will you be among the many who choose not to retire?
Retirement planning: Less than five years out
What are my potential sources of income?
The Canada Pension Plan (CPP) and Quebec Pension Plan (QPP) are pension payments available to all working Canadians, funded by mandatory contributions from employers, employees, and self-employed Canadians.
Old Age Security (OAS) is generally based on Canadian citizenship or legal residence, as well as the period of Canadian residence. If you have an income over $75,910, your benefit will be “clawed back” (reduced).
You may have other sources of income such as RRSPs, TFSAs, non-registered investments, and more. Your advisor can help to identify the sources and develop a strategy that fits your retirement lifestyle.
Pension or lump sum: How to choose when faced with this decision
Slash credit-card debt before you retire
Planning beyond retirement
The great divide: Income-splitting strategies may lower your family’s taxes (PDF, 85 KB)