Canadians are living longer and facing a greater responsibility today to fund their retirement. Saving and building a “retirement nest egg” for the future is becoming more important. However, many Canadians are not saving enough to maintain their desired standard of living throughout their retirement.
In retirement, many Canadians have a reduced income since they are no longer working. It’s important to think about how much you will need to retire comfortably, whether you will be relying on a reduced income, and whether that will be enough.
With proper planning, you can save enough for the standard of living or lifestyle you want in retirement. As retirement planning may be a complicated process, you may want to consult a financial professional who specializes in retirement planning. Read More