From pay cheque to pension cheque
Deciding how to transition out of your group or work retirement plan into a self-managed pension is one of the biggest and probably most stressful decisions you’ll ever make. Before you choose, ask yourself, do you want a standard approach to your retirement plan or do you want a personalized approach? Do you want the assurance a Personal Retirement Spending Plan can provide? If so our complete approach to wealth management may be just what you’re looking for. We take a personal and holistic look at your finances and create a plan that is detailed and specific to you.
Canada Pension Plan (CPP)
When should I start my Canada pension? That depends. The government phased in changes to CPP over the last number of years that will affect the amount of CPP you receive if you opt to receive it before or after age 65.
Have a plan before you exit.
You may think you have saved enough money for your retirement, but when and how you take it out matters too – saving is just the start. Having a plan will make a make a significant difference on how long your money will last and will also keep you on track to ensure you are paying the lowest amount of taxes each year.
In Canada, outside of traditional pension plans, the most well-known vehicles for saving for your retirement are the RRSP and the TFSA. But for higher earning, Canadians like business owners, incorporated professionals, executives, and athletes who have maximized their savings in these traditional vehicles, there are other lesser-known strategies they can use.