Retirement Planning

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Retirement planning is essential to ensure financial security and to efficiently manage the cost of living and medical expenses during retirement. The earlier you start planning for retirement savings, the more secure your old-age finances will be. But it’s never too late to start.

Retirement planning includes savings, investments, and income flow strategies to support you during retirement. It also allows some tax advantages and helps you grow your finances. Important things to remember for retirement planning are:

  • Assets
  • Income
  • Future expenses
  • Liabilities
  • Life expectancy

Our industry-leading advisors assess your profile and analyze each point to offer you the best plan. We plan based on three phases of your career:

  • Beginning of the career

    You may start with budget-friendly savings at the beginning of your career.

  • Middle level of the career

    In the middle of your career, you may save specific assets and achieve the pre-planned target.

  • Distribution phase

    This indicates the retirement age when your accumulated wealth will support your cost of living. We help you personalize your plan yet adhere to the rule of savings.

What is an ideal retirement plan?

The first step in retirement planning is identifying the right starting point for savings. Calculate the amount you may require for your retirement period, including expenses, set expenditure priorities, and select the right investment plan.
The mantra of retirement planning is a mix of growth investment when you’re young and conservative investment as you age. Connect with our advisors and try our retirement savings tools to get an investment plan.
One of the critical factors determining when you can retire is having enough money saved to replace your current income or maintain your lifestyle.
At the age of 60, you can begin claiming Canada Pension benefits. You will, however, lose a percentage of your advantages if you file early. The full retirement age (also known as the full Canada Pension benefits age) is 65. And if you can postpone it until you’re 70, your benefit will grow.

Some people retire early, while others retire later; both choices can be due to desire or necessity. Many people believe it is preferable to exit the workforce gradually rather than abruptly.

A strategic plan and investment in the right tool can ensure your retirement will be pleasurable and financially sound.

Not sure what type of insurance best suits your needs? Book a call with one of our licensed agents.

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