Start thinking about retirement
Retirement may seem a long way off, but every day you take another step in that direction. Surely, eventually, one day you’ll get there. Putting money aside for your retirement can be just as gradual and just as satisfying in the long run. There are so many opportunities to enjoy if you plan ahead for them. The key to a rewarding retirement is to begin saving early, to stick with it, and to have access to professional advice you can trust.
By saving this way, someone who starts putting money away at 25 might expect to have quite a nest egg by 65, generally considered to be retirement age. And, if the nest egg is held inside a Registered Retirement Savings Plan (RRSP), imagine what it could grow to by 71, when it must be converted to an immediate annuity, RRIF or taken in cash.
The longer you wait to start putting aside money for retirement, the harder it is to ensure you have the necessary funds when you decide to stop working.
Start with a discussion with one of our independent representatives1 to review your goals and determine your risk tolerance. They can tell you more about ways to save for retirement.