Although the Canadian Government supports those eligible with C.P.P. (Canada Pension Plan) and O.A.S. (Old Age Security), you may need more money to keep up with your lifestyle.
As a rule of thumb, you may require up to 70% of your pre-retirement income to maintain your lifestyle.
Some may argue about individual retirement planning when Government programs such as C.P.P. (Canada Pension Plan) and O.A.S. (Old Age Security) are available. It is true; these Government retirement plans are available to most Canadians who have contributed to them or have fulfilled their eligibility criteria. However, the amount of future retirement through these plans can't be ascertained in the present. The pension from these plans should only be considered as an icing on the cake. However, it is always recommended to start planning for retirement as soon as you begin earning.
These three tools can certainly help you plan for your golden retirement.
RRSP (Registered Retirement Savings Plan)
"Elevate your retirement strategy with the invaluable benefits of the Registered Retirement Savings Plan (RRSP). Designed to empower Canadians in their journey toward financial security, RRSP offers a dual advantage.
First and foremost, your contributions to an RRSP are tax-deductible, providing immediate relief and reducing your taxable income. This tax efficiency allows you to maximize your savings potential.
Contributions made to RRSPs grow tax-deferred, allowing your investments to compound over the years without the burden of annual taxation. This disciplined and tax-efficient approach ensures that your retirement savings accumulate more rapidly, providing a substantial financial cushion for your post-working years.
RRSPs offer diverse investment options, from stocks and bonds to mutual funds, Segregated funds and more. This flexibility enables you to prepare your portfolio to match your risk tolerance and financial goals. Whether you seek capital growth or income generation, RRSP provides the tools to craft a personalized investment strategy.

TFSA (Tax-Free Savings Account) "Transform your retirement dreams into reality using a Tax-Free Savings Account (TFSA). Tailored for the savvy Canadian investor, TFSA offers a unique and tax-efficient approach to building wealth.
The beauty of TFSA lies in its tax-free growth and flexibility. Contributions to your TFSA are made with after-tax dollars, and any investment income, dividends, or capital gains earned within the account are entirely tax-free. This tax-free nature also extends to withdrawals, making TFSA an ideal vessel for long-term retirement planning.
Maximizing the potential of TFSA involves strategic investment choices, allowing your contributions to flourish over time. From stocks and bonds to mutual funds, segregated funds, and more, TFSA provides diverse investment options to match your risk tolerance and financial objectives.
Whether you're just starting your career or are already well into your retirement journey, TFSA empowers Canadians to grow and protect their wealth while enjoying the flexibility of tax-free withdrawals.

Whole Life/Universal Life Insurance "Unlock the full potential of your retirement strategy with a Whole Life Insurance policy featuring cash value. Tailored for Canadian investors, this financial instrument is an Excellent choice for long-term retirement planning. Whole Life Insurance provides a reliable death benefit for your loved ones and builds cash value over time.
The accumulated cash value grows tax-deferred, offering a tax-efficient shelter for your wealth. As you contribute to your policy, you're not just securing your family's future but creating a financial cushion for your retirement.
The cash value component of Whole Life Insurance offers versatility, allowing policyholders to access funds through policy loans or withdrawals and providing financial flexibility during retirement.
The steady growth of cash value, coupled with the death benefit, ensures a comprehensive and reliable source of retirement income.
Contact our team of expert advisors who can work with you and help you plan for your Golden Retirement.