Save For Your Retirement!

Q. What Should You Do on Your First Day of Work?

A. Plan for Retirement!

When we first start work, retirement planning is something we put off because it seems so far away and we have immediate expenses to deal with.

And when we get a little bit older, retirement planning is something we put off because we’re busy paying for car loans, mortgages and raising a family.

And when we get to retirement age, we’re in shock because we have set aside so little for our retirement needs.

The fact is:

Canadians are living longer and need more than our forefathers for retirement.

Canadians want more enjoyment in their retirement and that means we need more money from our retirement plans to support an enhanced lifestyle.

The fact is, there are more options now for retirement planning than ever before.

The benefits of retirement planning include:

1. Tax-free growth of investments during the working years.
2. Withdrawals in the retirement years are generally made at lower rates of tax due to less employment income.
3. RRSP contributions can be “borrowed” back tax-free to fund purchases made under the Home Ownership Program
4. Small monthly contributions to an RRSP program are seldom missed during the working years, but through the magic of compounding can provide substantial income upon retirement.
5. An RRSP plan is like a forced savings account….nothing wrong with that!

• The professionals at Morgan National will help assess and develop your future cash flow projections based on your personal income and expenses.
• These projections will be further assessed and a determination of how much you should be saving will be made to match your personal retirement goals.
• Your retirement plan will then be further developed to match to your tolerance for risk versus reward, and the appropriate investment vehicles will be suggested.

For help and advice on how to save for retirement, call the financial experts at Morgan National 1-866-595-3533. For more information on retirement plans, visit “Wealth Enhancement“ page on this website.