Are You Saving Enough To Retire?
CIBC published a recent poll on the subject “Am I saving Enough to Retire?”.
If I boil it down to the most important points in the whole article, I think it’s as follows.
- 90 per cent of Canadians, who are not currently retired or semi-retired, do not have a formal and detailed retirement plan that describes the lifestyle they want
- 53 per cent aren’t sure if they’re saving enough
Where do you start?
- Do you know what your Old Age Security (OAS) benefit is and when you’re eligible to start? Click here to learn more.
- Do you know what your Canada Pension Plan (CPP) benefit is and when your eligible to start? Click here to learn more.
These two important pieces of the puzzle that a financial planner needs to help you construct a baseline written financial plan.
If you’re a client, we follow the six-step process outlined here.
Alternatively, if you aren’t a client, some simply choose a periodic fee-for-service plan much like a doctor’s annual physical. This independent review excludes implementation and ongoing monitoring of your plan but is a good place to start.
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