Make your retirement dreams come true.
Dreams remain only dreams without a solid plan for retirement income. If you’re in the early stages of retirement planning, there are some important questions and options you should consider.
If you’re nearing retirement or are already retired and embarking on a new career or new experiences, you want to make sure your investment plan can be sustained throughout your retirement years.
Sentinel Financial Management Corp. can help you achieve many of your retirement goals. Here are some tips to help you better plan for your retirement needs.
Can you afford to retire?
A comfortable retirement is a major goal shared by most Canadians, but the reality is that few of us are adequately prepared.
The first step is preparing a proper retirement income analysis to determine what is possible.
Consider the facts
- Less than 30% of Canadians belong to a company sponsored pension plan.
- Less than 60% of Canadians have a Registered Retirement Savings Plan (RRSP).
- With life expectancy on the rise, many Canadians will live well into their 80s. That means your retirement savings may need to last 20 years or more.
What do you want to accomplish while you are living?
- Tax-advantaged growth.
- Liquidity for emergencies and opportunities.
- Financially independent retirement.
- Upon your death…Minimal estate taxes and final expenses.
- Maximum estate passed to heirs.
- Financially sound family and business.
To achieve a financially comfortable retirement:
- You need your assets to grow.
- You need to build a financial nest egg.
- You need to pay yourself first by diverting a regular percentage of earnings to your retirement fund.