Happy belated birthday Canada! And a Happy Natal Day to our Nova Scotian clients! We all hope you are having a great summer so far. Let’s cross our fingers that there is more fun in the sun to come for all of us before the kids (and some of you) head back to school in September.
Speaking of… don’t forget to make your RESP withdrawals before tuition is due!
This time of year certainly is a good one to fantasize about the day you can finally hang up your work clothes for retirement. Whether you dream of travelling the world, spending time with your family, or even starting a new “post-retirement career”, it’s a period of our lives most can look forward to.
Fidelity Investments conducted a survey that assessed Canadians opinions and positions on just that: why and when Canadians retire. Rick reviewed the results of this survey in this edition of our newsletter and provides some highlights that shed light on Canadians attitudes and expectations.
In another article from Empire Life, we explore Canadians worries about retirement, from personal health to their family’s financial situation. While retiring with debt is not ideal, it is the reality for many Canadians.
Some Canadians even feel the need to withdraw from their RRSPs before retirement. I take a look at the reasons these withdrawals are made, and the cases in which these withdrawals are actually in good planning sense (which can sometimes be the case!).
Unfortunately, many Canadians make RRSP withdrawals just to make ends meet. Sometimes proper budgeting is all that it takes to avoid dipping into your savings when you need a few extra dollars. One money-saving strategy is to use coupons and retail rewards to save money on your everyday purchases. Melissa covers the benefits of these sorts of programs in her article.
If after perusing this newsletter you feel a conversation with your trusty financial planner is in order, give us a call! An experienced ear is sometimes all you need to alleviate your worries about retirement.