Retirement Income Solutions

Save more on your retirement income

Whether you have a full retirement plan already or are just starting we are there to help you begin

 

Wherever you are with your plans, we can help. We’ll help break down the retirement dilemma into smaller, bite-sized pieces. The amount you really need is not always the scary figure that makes the headlines on the viral articles! It depends on your current circumstances, the kind of lifestyle you want, the number of dependents you may have, and much more.

Our team combines tax and estate planning to help you make the most efficient use of your assets in retirement. Whether you want to start thinking about it in your 30’s, nearly retired, newly retired or fully retired, we’ll create a written income plan that soothes the tax bite on your retirement income over time and gives you peace of mind.

Personalized Retirement Management

Retirement Income Plan

A retirement income plan is a year by year timeline that shows you where your retirement income will come from. We take a look at balancing:

  • Pension
  • Benefits
  • Forcasted Expenses
  • Potential Tax Benefits

Asset Management

Balancing your assets during retirement is incredibly important! We help with every aspecy of your asset portfolio

  • Real Estate
  • Financial Protfolios
  • Mutual Funds
  • Investments

 

We help your strategize your taxes by determening the best way to:

  • Withdraw from your investments
  • How much you withdraw from your RRSP v. TFSA v. non-registered.
  • Make your tax-efficient investments
  • Start your RRIF, work pension and government pensions

Retirement Income Chart

Both sexes
Canada (map)
Retirement age Class of worker 2016 2017 2018 2019 2020
Years
Average age Total, all retirees 63.6 63.6 63.8 64.3 64.5
Public sector employees3 61.6 61.5 61.7 62.6 62.4
Private sector employees4 63.8 64.2 64.4 64.4 64.7
Self-employed5 68.1 68.0 67.7 67.1 68.0
Median age Total, all retirees 63.2 64.0 64.2 64.5 64.6
Public sector employees3 61.2 61.3 61.3 62.3 61.7
Private sector employees4 63.8 64.7 64.8 64.8 64.7
Self-employed5 66.8 66.9 66.8 66.4 66.8

Frequently Asked Questions

What questions should I ask before I retire?

Some questions you should ask yourself before you retire are:

  • How Much Money Do I Need?
  • When Should I Claim Social Security?
  • How Much Will Healthcare Cost Me Later?
  • How Do I Spend From My Retirement Savings?
  • What Is The Best Way To Invest My Retirement Savings?
  • When Do Most People Retire?

How many years do you have to work in Canada to get a pension?

Even if you have never worked, you may be eligable to receive a pension if you are 65 years of age or older and have lived in Canada for at least 10 years.

What questions do I need to ask my financial advisor about retirement?

Some great initial questions to ask your financial advisor:

 

  • How will you make sure my money lasts as long as I need it?
  • How can you help me to maximise my Age Pension entitlements?
  • How can you make sure my money can keep up with the rising costs of living?
  • How long will my Super last?

What is the best age to collect CPP?

Another question associated with this is often “Is it better to collect CPP at 60 or 65?” as the answer depends on your life expectancy.

The breakeven point for opting into collecting CPP at 60 vs. taking it at 65 is around age 74. When it’s unlikely that you will live past 74 years, the math says it’s better to take CPP early. Something that you should take into consideration of this is your life expectancy and your family health history.

Start

Prepare For Your Retirement