Retirement opens up a seemingly limitless world of possibilities. But all those choices can be a bit intimidating. The good news is with a bit of care, forethought and preparation, you can not only plot out a successful, fulfilling retirement, but also ensure you’ll have the funds on hand to pay for it. The following tips can help.

1. T R U S T L I F E

2. Retirement opens up a seemingly limitless world
of possibilities. But all those choices can be a bit
intimidating. The good news is with a bit of care,
forethought and preparation, you can not only
plot out a successful, fulfilling retirement, but also
ensure you’ll have the funds on hand to pay for it.
The following tips can help.
T R U S T L I F E

3. T R U S T L I F E
While you should definitely leave room in
your plan for serendipity and adventure,
creating a list of your priorities for your
golden years can prove invaluable as you
lay down a sturdy foundation for your
retirement.
What’s on your list? Exotic travel, starting
a new part-time business, spending more
time with friends and family, diving into a
new hobby or signing up for a class on a
topic in which you’ve long harbored an
interest? Take some time to mull over
what you really want.

4. T R U S T L I F E

5. Do your best to pay off any debt while
you’re still earning a regular income.
Once that debt is gone, redirect those
resources to your savings, investments
and other long-term goals.
T R U S T L I F E

6. Now that you have a more solid conception of
what you want your retirement to look like, it’s
time to crunch the numbers and establish a
feasible budget. Get as detailed as possible.
Include housing costs, rent, gas, hydro, food,
transportation and any other expenses that
come to mind. If you are considering downsizing
your space to free up resources, keep an eye on
the market and work with a real estate agent you
trust to maximize the value of your move.
T R U S T L I F E

7. T R U S T L I F E

8. T R U S T L I F E
Max out your retirement investments by
putting as much as you can into your
Registered Retirement Savings Plan (RRSP)
and Tax-Free Savings Account (TFSA), then
speak with your financial advisor about
further options for growing your money
that best suit your unique needs.

9. You can minimize those aches, pains and
potentially skyrocketing healthcare costs
as you age by eating right, getting
enough sleep, exercising and maintaining
your general health. Don’t forget to look
after your mental and emotional health,
too – that’s always important
T R U S T L I F E

10. T R U S T L I F E
Your RRSP, TFSA and employee pension
plan need not be your only sources of
retirement income. You may also be
eligible for payments from Old Age
Security (OAS), the Canada Pension Plan
(CPP) and the Guaranteed Income
Supplement (GIS), all of which supplement
your retirement income.
Also, other income sources to consider
include rental income and part-time work.

11. Retirement is a watershed moment in your life and even if you’ve made plans, you
might find yourself wondering what to do with all that new, free time. If that
transition ultimately seems to too abrupt, consider a move to working part-time with
a gradual decrease in hours. You don’t want to work until you’re 80 out of pure fiscal
necessity, but there’s no longer a hard-and-fast rule that says you have to retire at 65
if you still enjoy working.
T R U S T L I F E

12. T R U S T L I F E
Talk to our experienced financial
advisors about your best retirement
planning options. No fees, no
obligation!
We have over 30 years of experience
providing expert financial advice for
both businesses and individuals.

13. 18558687878 csteam@trustlife.ca
www.trustlife.ca