It's time to make a plan and set your priorities. As you approach retirement, it's important to see an advisor who can help you determine your goals and put your retirement plan into action.
"The future belongs to those who prepare for it today."
– Malcolm X
With more free time on your hands, retirement is the perfect opportunity to finally accomplish what you've been dreaming of.
Use our retirement calculator to make sure you're on track.
Determine an order of repayment for your debts, making high-interest debt (e.g. store credit cards) your top priority. Try to pay off all your major debt, such as a mortgage, before retirement.
Draw up a balance sheet of your income and debt so you have a clear picture of your financial situation.
Putting your plan down on paper is a key step. It's a good idea to have an advisor review it to make sure you've chosen the most suitable investment approach. Make an appointment today to get personalized advice so you can make informed decisions.
When you retire, your RRSP will be converted into an RRIF or another type of retirement fund, which you'll draw on for your retirement income. Sit down with an advisor to map out the best strategy and schedule for making these withdrawals.
Calculate how much you can withdraw from your retirement funds through RRIF payments.