Angela Iermieri | Desjardins Group
Every plan needs a strategy. Do you have yours?
Map out a strategy and give yourself a better chance to reach your goal quicker and more easily. Thinking about every aspect of your retirement will help you feel confident about achieving that perfect retirement plan you have in mind.
Rule #1: Plan
Whether you're 5, 10 or 15 years out from retirement, ask yourself if you're on the right track. For some people that means paying off debt, for others it means maximizing savings. Setting up regular savings contributions is an easy and practical way to stay on course and achieve your goals.
Rule #2: Diversify
It doesn't matter how much time you've got left until retirement, your investment portfolio always has time to grow--even into retirement. But it needs to be diverse. A solid diversified portfolio is one that includes different investment vehicles in different investment categories (guaranteed investments, securities, etc.). By setting up your investments according to your investor profile, you're trying to achieve significant long-term returns.
Rule #3: Reduce your tax load
When do you think you should start withdrawing your RRSPs? What about your government pension? Keep more money in your pockets and plan retirement payments at the same time as your savings strategy.
Rule #4: Think about "after"
It's not always easy to think about what happens when we're gone, but passing on your assets can be important for tax strategy. If you plan it right, your estate will be settled without any problems and according to your wishes. It pays to plan ahead.
Rule #5: Get advice
Whether you want to plan your retirement, improve your tax strategy or plan your estate*, your advisor has the expertise and the right recommendations for you. They can take a broad look at your assets and provide strategies that match up with your idea of a successful retirement.
*Services may include contributions from various Desjardins components or external partners.