Preparing for Your Retirement

Preparing for Your Retirement. The world has had a tough year, and for many of us, this has led to moments of reflection and finding out what our priorities are. The decisions we made, the money we’ve spent, and more importantly, how much money we have left. These thoughts at the back or forefront of your concerns can weigh you down and get in the way of your everyday operations. Life doesn’t stop though, and each day we find ourselves needing to move forward.

You might find yourself asking how do I prepare for my retirement?

The first step

Have a vision and to concretely WANT IT. Our thoughts are powerful bringers of change, and preparing for retirement starts with a thought. That thought will then require action, and those actions will enable you to retire. Thomas Thusser once said, “A fool and his money are soon departed.” Don’t be a fool. Once you have the thought of retiring comfortably, hold onto it and make it a reality.

The second step

Be serious about your budget. Making money IS important, but so is knowing exactly where it goes and how much you can save. Having a budget for your monthly, seasonal, and yearly needs is important to ensure that you’re responsibly taking care of yourself and your family’s future. Remember: Decisions you make today have a huge impact on tomorrow. Next, ask yourself if you have money for retirement. Now, this is where a bit of difficulty can come in.

You can look at your budget and not know where to get your retirement money. We can help you figure that out. One of our goals is to help you successfully allocate money where it needs to go. Preparing a budget that works for you and your lifestyle doesn’t have to be a burden, and we can help you with your accounting and budget adjustments for your current and future needs. We understand that each person is different, and one way to get a good start is having a budget template. IF, however, you find that this does not work for you, don’t hesitate to get in touch with us for a more personalized plan. Once you have a budget in place you can move on tot he final step.

The third step

You need to take care of is getting out of debt before retirement. Too many people retire in debt. All those years of working will be for naught if you find yourself in a similar position. Don’t let your hard work go down the drain! Preparing for retirement can start as soon as you have a bank account, and there are ways to make your money grow or secure yourself financially in old age. We can get you on track, and we can do this TODAY.

Should you find yourself in a difficult situation financially, a licensed insolvency trustee (LIT) can help you get out of it. Being in debt is tough, but we can help. Dealing with creditors and finding a payment plan that can work for you can add so much stress to your day-to-day life. We’re here for you. Get in touch with us to find out how a consumer proposal works and why it might just be the solution you need!

Why Preparing for Retirement Is Important

You can only work for so long, and always remember that YOU are your best asset. This is why you have to take care of yourself. By preparing for your retirement (early), you are able to achieve the following:

  • Rest assured that you can live comfortably and in good health when you get old
  • Less stress means better health
  • Not be a financial burden on your loved ones
  • More control over your income sources
  • Better control over current career-related decision making

Click HERE to get more information about Old Age Security (OAS) pension and Canada Pension plan (CPP) retirement benefits and estimate your retirement incomes.

Take action. Call us today and we’ll help you move forward with your retirement planning.

We hope you enjoyed reading this article “Preparing for Your Retirement.” and if you have any questions or you’d like to book a consultation please contact us. 

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