Every baby boomer has a different goal for retirement. It’s an incredible milestone in life and one that we can’t wait to reach. To enjoy your retirement years, it’s essential to start planning early.

Your retirement plan should answer these questions:  

  • Do I have enough to retire?
  • Will my money last for the rest of my life?
  • How much do I need in retirement?
  • What government benefits are available?
  • What happens if my health changes?


Retirement Planning 

Many people don’t know how much money they need to retire. The answer is it all depends. Planning for retirement will look different depending on your goals. We will consider your hobbies, interests, and health conditions to create a plan that is right for you. We’ll also need to answer these questions: 

  • When do you want to retire?
  • Where do you want to live in retirement?
  • What will your expenses be?
  • What will be your income every month?

We’re here to help. As you work through all the stages of retirement, we’ll answer these questions and help you retire with financial confidence. 

Are you retiring with debt? If you want to minimize debt in retirement, you should have a strategy and timeline and first attack the most troublesome debt. It’s important to consider taxes, retirement portfolio withdrawals and income streams when tackling the debt. 


Government benefits

The federal government offers three different benefits that you might be able to claim when you stop working: the Canada Pension Plan (CPP), Guaranteed Income Supplement (GIS), and Old Age Security (OAS). Even if you’re eligible for all three benefits, it still might not be enough to provide you with the income you need for the type of retirement you want. We’ll take a closer look at what’s available, how much you can expect to receive, and how to apply for benefits to supplement your retirement income. 

What happens if my health changes?

Though it’s not something anyone wants to think about, most people need healthcare coverage during retirement. Thankfully, there are several options. In addition, some retirees may be fortunate enough to retain health coverage from a former employer. But remember not to expect the same type of benefits in retirement as you had before retirement. We’ll review with you what makes the most sense. 
If you’re diagnosed with a critical illness or suffer from a significant health change, your retirement could be negatively affected. Critical illness insurance is designed to help protect retirement plans against the impact of a critical illness. The lump-sum benefit enables you to cope with the immediate financial costs. At the same time, long-term care insurance provides income-style benefits to cover the cost of care if you become unable to care for yourself because you cannot perform activities of daily living.

Your estate

Estate planning is a way for you to decide how your assets will be distributed once you die or become unable to make financial decisions, and we want to help you make that process as easy as possible.

Having an estate plan to make sure your assets go to the right people or organizations you love and having your taxes set up optimally can help ease the stress of your passing. And it will show them how much you care.