Now is the time to reap all the benefits of the years you worked and saved. Your retirement journey can last many years, so we want to ensure you enjoy all that hard-earned money living the life you deserve.
Making your RRIF go further
Now that you are dipping into your RRIF, it is important to focus on the tax implications of income and withdrawals. Your FSW Advisor will work with you to implement the best tax savings strategies to ensure you keep more money.
From maximizing your RRSP contributions before you turn 71 to spousal and investment strategies, our knowledge and expertise will help you make the most of your retirement.
Invest in your health
The idea of needing care or a decline in your health is not always the top priority when it comes to retirement planning, but it is crucial.
Consider having a Health Directive in place
Most people think that if they are ever in a medical situation where they cannot make decisions on their own health, a spouse or family member can step in. This is not accurate.
Having a Health Directive in place ensures your wishes are fulfilled by someone you trust.
How long can you stay in your home if you are not downsizing?
Aging in place means having access to services and the health and social supports you need to live safely and independently in your home or your community for as long as you wish or can.
Do you have the financial resources to make changes to your home or acquire daily home care services if needed?
Government and provincial provided home care services are limited in what they can offer
If you decide to move to a retirement residence or care home, you need to have a financial plan in place as these are large expenses.
Having the appropriate insurance in place, such as Critical Illness, Long Term Care and Home Care Assistance will provide you with options and peace of mind.