Planning today for a worry-free tomorrow
You’ve made a smart choice by deciding to set money aside for retirement. But you’re not quite sure how to proceed. What’s the best way to save? The fact is that regardless of the strategy you choose, it’s never too early or, for that matter, too late to start saving.
The 5 steps of planning
The easiest way to begin planning is to follow these five steps:
1. Determine the sources of income on which you will be able to rely.
2. Decide at what age you would like to retire.
3. Calculate how much money you will need in retirement.
4. Calculate how much you will need to save.
5. Invest in an RRSP.