Are You Financially Equipped For Retirement? Here's a Guidelines to Get You Ready!!

Start Saving

 Canadians spend an average of 20 years in retirement. If you’re not saving, it’s time to start.

Estimate Your Retirement Needs

Expert’s estimate that you will need about 70% of your preretirement income – for lower income earners, the figure is 90% or more – just to maintain your current standard of living when you stop working.

Participate in a workplace Retirement Savings Plan

If your employer offers a retirement savings plan (RRSP), sign up and contribute as much as you can afford. Your company may kick in to match and your deductions can be automatically taken from our paycheck.

Educate yourself about your investments

How you save can be as important as how much you save. The type of investment you make play important role in how much you’ll have saved at retirement. Learn and ask questions about your investment options.

Find out how the Canada Pension Plan (CPP) Works

Your contributions to the Canada Pension Plan provide you with a stable and dependable pension you can build on for retirement.

Your contributions also provide you and your dependents with     basic financial support. Check out Services Canada Website http://www.servicecanada.gc.ca/eng/isp/cpp/cpptoc.shtml

Have a Real Estate Portfolio

Your principal resident is your tax free retirement fund. Buying an income generating property can provide cash flow in your retirement years.

Believe it or not I learn so much just putting all the information together for my blogs every week. I truly hope you enjoy reading these helpful hints.

Curious about the current value of your home call me today for a Complimentary No Obligation Home Evaluation

Are you or someone you know buying, selling, downsizing or investing in  Toronto Real Estate? Call me! Living, Loving & Selling Toronto for over 30 years!