5 Tips for the Soon-to-Be Retiree

Listen to this Podcast


5 Tips for the Soon-to-Be Retiree

Making the conscious decision to stop working and move into retirement can be difficult. There are many worries that go along with it, chief among them being concern for your financial health.

If you are nearing retirement age, here are some tips on how to approach your financial wellbeing before you make the change.

  1. Assess your assets
    At some point, you really need to sit down and make a list of the financial resources you have at your disposal. This state-of-the-union doesn’t have to provide the answers, but it will give you a concrete starting point in formulating a financial plan.
  2. Know your acronyms
    Much of the juggling in retirement concerns drawing income from various sources: RRSPs, RRIFs, TFSAs, CPP, OAS, GIS, as well as your workplace pension plan if you have one. Each of these potential income sources comes with unique advantages and its own set of rules regarding timing and payout amounts. The trick is to get to know how each one works — and how they can affect each other — so you can figure out when and how to draw on each one to optimize their total value.
  3. Find your balance
    Income generation from investments becomes top of mind for retirees. Careful planning helps you draw sufficient income to support your lifestyle without triggering a high tax burden. The other balance you’ll need to find is how to enjoy continued growth to help your money last well into the future, while minimizing potential risk.
  4. Time your move
    Many of the decisions you will make as you structure your retirement finances require careful timing. That includes any potential changes to your residence. If you own a house, do you plan to live there as long as possible, or sell so you can downsize and use some of the assets for income? If the latter, you’ll need to decide when to sell based on market predictions and your own financial situation, keeping in mind that buying a new home may need to be factored into the process.
  5. Talk to your advisor
    Financial planning is complex at the best of times, and retirement planning particularly so. Creating a strategy to maximize your financial resources while minimizing taxes and leaving a legacy requires expertise and careful consideration. Working with a financial advisor can help ease the decision-making burden and reassure you that you are on the right track to enjoy a financially successful retirement.

As experts and skilled advisors who work closely with insurance, tax and legal specialists are available to create a well-rounded plan designed specifically for you.

Want to learn about a financial strategy that is right for you? Contact your advisor today!

2,035 thoughts on “5 Tips for the Soon-to-Be Retiree

  1. myinforms says:

    I’ve read several excellent stuff here. Definitely value bookmarking for revisiting. I wonder how a lot attempt you place to make this kind of great informative web site.|

  2. myinforms says:

    Hi I am so grateful I found your blog, I really found you by mistake, while I was looking on Digg for something else, Anyhow I am here now and would just like to say thanks a lot for a marvelous post and a all round enjoyable blog (I also love the theme/design), I don’t have time to read through it all at the moment but I have saved it and also included your RSS feeds, so when I have time I will be back to read more, Please do keep up the awesome work.|

  3. myinforms says:

    A person necessarily help to make significantly posts I might state. This is the very first time I frequented your website page and to this point? I amazed with the research you made to create this particular post amazing. Fantastic process!|

  4. uk cbd oil says:

    hello!,I love your writing very so much! proportion we communicate extra approximately your post on AOL? I require an expert in this space to resolve my problem. May be that’s you! Taking a look forward to look you. |

  5. BlessedCBD says:

    I know this if off topic but I’m looking into starting my own weblog and was curious what all is required to get setup? I’m assuming having a blog like yours would cost a pretty penny? I’m not very internet savvy so I’m not 100 certain. Any suggestions or advice would be greatly appreciated. Appreciate it|

  6. raw garden says:

    Can I simply say what a relief to find an individual who actually understands what they are talking about on the net. You certainly know how to bring a problem to light and make it important. A lot more people need to read this and understand this side of the story. I was surprised that you aren’t more popular since you certainly have the gift.|

  7. best cbd oil says:

    We are a group of volunteers and opening a new scheme in our community. Your website offered us with valuable info to work on. You have done a formidable job and our entire community will be grateful to you.|

  8. cbd effects says:

    It is the best time to make some plans for the future and it’s time to be happy. I have read this post and if I could I want to suggest you some interesting things or advice. Perhaps you can write next articles referring to this article. I want to read more things about it!|

  9. perfect money uk says:

    Do you have a spam problem on this site; I also am a blogger, and I was wondering your situation; many of us have created some nice procedures and we are looking to trade techniques with other folks, please shoot me an e-mail if interested.|

  10. dispensary near me says:

    I think that what you published made a great deal of sense. However, consider this, what if you were to write a awesome headline? I am not suggesting your information is not good., however what if you added a title that grabbed people’s attention? I mean BLOG_TITLE is a little vanilla. You could glance at Yahoo’s home page and see how they create news titles to grab people to open the links. You might add a video or a related picture or two to grab readers excited about everything’ve written. Just my opinion, it might make your blog a little livelier.|

  11. best cbd oil companies says:

    Yesterday, while I was at work, my cousin stole my iphone and tested to see if it can survive a twenty five foot drop, just so she can be a youtube sensation. My iPad is now destroyed and she has 83 views. I know this is totally off topic but I had to share it with someone!|

  12. escort service usa says:

    An outstanding share! I’ve just forwarded this onto a colleague who has been doing a little research on this. And he in fact ordered me dinner because I found it for him… lol. So allow me to reword this…. Thanks for the meal!! But yeah, thanx for spending the time to discuss this topic here on your web page.|

  13. cbd oil for dogs reviews says:

    I’m very happy to discover this page. I need to to thank you for ones time for this particularly wonderful read!! I definitely enjoyed every part of it and i also have you book marked to look at new information on your blog.|

  14. profile says:

    Magnificent beat ! I would like to apprentice whilst you amend your web site, how could i subscribe for a weblog website? The account helped me a appropriate deal. I have been a little bit familiar of this your broadcast provided vivid clear concept|

  15. Scam says:

    I am no longer certain the place you’re getting your info, but good topic. I needs to spend a while studying much more or understanding more. Thanks for excellent info I used to be looking for this information for my mission.|

  16. BlessedCBD says:

    I loved as much as you will receive carried out right here. The sketch is attractive, your authored subject matter stylish. nonetheless, you command get bought an shakiness over that you wish be delivering the following. unwell unquestionably come further formerly again since exactly the same nearly very often inside case you shield this increase.|

  17. Blessed CBD oil reviews says:

    I have been browsing online more than 3 hours today, yet I never found any interesting article like yours. It is pretty worth enough for me. In my opinion, if all site owners and bloggers made good content as you did, the net will be a lot more useful than ever before.|

  18. cbd oil says:

    Thanks for another informative web site. The place else may just I am getting that type of info written in such a perfect means? I’ve a challenge that I am simply now operating on, and I’ve been at the look out for such information.|

  19. cbd oil reviews says:

    Terrific article! This is the type of information that are meant to be shared around the internet. Disgrace on the search engines for no longer positioning this put up upper! Come on over and seek advice from my site . Thanks =)|

  20. visit the link says:

    Pretty section of content. I just stumbled upon your website and in accession capital to assert that I get actually enjoyed account your blog posts. Anyway I’ll be subscribing to your augment and even I achievement you access consistently quickly.|

  21. AWS says:

    My partner and I absolutely love your blog and find the majority of your post’s to be what precisely I’m looking for. Would you offer guest writers to write content available for you? I wouldn’t mind writing a post or elaborating on a number of the subjects you write in relation to here. Again, awesome weblog!|

  22. garagedoorrepairdfw says:

    I’ve been surfing online more than 4 hours today, yet I never found any interesting article like yours. It is pretty worth enough for me. Personally, if all webmasters and bloggers made good content as you did, the internet will be much more useful than ever before.|

  23. click this link says:

    Heya! I know this is kind of off-topic however I had to ask. Does managing a well-established blog like yours require a massive amount work? I’m brand new to writing a blog however I do write in my diary every day. I’d like to start a blog so I will be able to share my personal experience and feelings online. Please let me know if you have any kind of suggestions or tips for brand new aspiring bloggers. Thankyou!|

  24. cbd oil for dogs says:

    Do you have a spam problem on this website; I also am a blogger, and I was wanting to know your situation; many of us have created some nice methods and we are looking to swap techniques with others, please shoot me an e-mail if interested.|

  25. best cbd oil says:

    Hi there, You’ve done an excellent job. I’ll certainly digg it and personally suggest to my friends. I’m confident they’ll be benefited from this website.|

  26. cbd oil for dogs says:

    I was recommended this website by my cousin. I’m not sure whether this post is written by him as nobody else know such detailed about my difficulty. You’re amazing! Thanks!|

  27. jobs washington says:

    I’d like to thank you for the efforts you have put in penning this blog. I really hope to see the same high-grade blog posts by you later on as well. In fact, your creative writing abilities has motivated me to get my own, personal blog now ;)|