Reading your annual pension statement may be as fun as pulling teeth, but it’s important to stay on top of your retirement savings. Here are 5 must-know points to check for on your statement.
It’s a stark reality: according to a CIBC poll, 59 per cent of Canadians will retire while holding debt. Adapting to a fixed income can make it challenging to manage day-to-day expenses and afford extra debt payments. Here are a few key numbers to consider when planning your retirement.
Retirement comes with age. Might seem like common sense, but it’s a fact many don’t like to consider when planning their post-pension finances. The truth is, aging – and slowing down – is unavoidable, and there are significant costs associated with this life stage. Whether you’re retrofitting your home to ease mobility, or shelling out for prescriptions, a little planning can go a long way in alleviating the costs of aging.
It’s the great Canadian dream – retire as early as you can and kick back to enjoy your golden years in relaxed style. For many Canadians, though, this simply isn’t a reality – and as pension possibilities dwindle, many are on their own when it comes to saving for their senior years. We’ve got a few ways to help cut corners – and make the most of your post-pension finances.