facebook twitter instagram linkedin google youtube vimeo tumblr yelp rss email podcast phone blog search brokercheck brokercheck Play Pause

Six Steps to Retirement Success

Wondering what the key to a fulfilling retirement is? It’s making the most of everything you have – your free time, your health, and all the money you’ve worked so hard to save!

It takes good planning to make the most of your retirement, though. We’ve got six steps you must take to make the most of your retirement income.

Step #1: Have A Plan!

Have you thought about how you want to spend your time in retirement and how you’re going to fund it? Even if you currently work with a financial planner, you likely haven’t thought about how your finances should be set up once you’re retired. You need a plan for your retirement years about where you’ll live and how you’ll want to spend your time and money.

Step #2: Have Your Assets With One Advisor

Simplicity is key here. You can spend less time keeping track of your money and ensure it’s better managed by having all your investments with one advisor. Work with a specialist who has access to a variety of financial tools and products and can create a successful income plan for you.

Step #3: Organize Your Income Sources Efficiently

It can be overwhelming to decide which assets, such as a pension or an RRIF, you should start using and when. You should have a strategy to maximize the amount of income you are bringing in. This also applies to when you should start claiming CPP. 

Step #4: Avoid Losing Tax Credits and Government Benefits

Don’t lose tax credits like the Age Credit or have your Old Age Security (OAS) clawed back needlessly! By appropriately structuring when and how you receive income, you can avoid unnecessary losses and preserve your assets for the long term. 

Step #5: Create A Dependable Cash Flow 

By investing your income-producing assets wisely, you can ensure that you can count on having a steady income in your retirement years. The key is to balance safety with growth (while minimizing risk) effectively. A documented plan can help you achieve these objectives! 

Step #6: Plan For All Eventualities

The final step of retirement success is to consider the amount of money you’ll need to fund your later years when you may require an increased amount of care. You also need to think about estate planning and how you want to support your family or causes you care about. 

Let Us Help You Succeed

We can provide you with the expertise you need to put together a successful plan for your retirement. We’ll work with you to design a customized plan to help you achieve your retirement objectives. Reach out to us today to get started!