How to be money-smart in retirement

10 Jun 2017

Many of us look forward to retirement as an opportunity to pursue new goals or reactivate life-long interests. With the right financial planning, you can be on track to achieve the financial security you need to realize your vision of a comfortable retirement.

By staying informed and taking steps to protect your savings, you are setting yourself on the path to becoming a money-smart retiree. Here are some tips to get you started on the right path:

1. Review your investments based on the timing of when you plan to withdraw your money. As you approach retirement, talk to your financial advisor regularly about your goals and any changes that could affect them.

2. If you're still working, maximize your pension contributions to give your savings a boost.

3. Assign a power of attorney to someone you trust to handle financial and legal matters on your behalf as you age.

4. Learn about tax credits available to seniors, including pension income credits and disability credits.

5. Educate yourself on elder abuse and fraud. Common forms include burglary, telephone fraud and identity theft. Sadly, most financial fraud committed against older adults involves friends, family, caregivers or social contacts. The more you know, the better you can protect yourself.

For more information, visit IFIC.CA > Investors

www.newscanada.com

Subscribe to our newsletter!


Thank you for your subscription

Latest Articles

Jun 10, 2017

5 unique and useful wedding gift ideas

in Lifestyle by News Canada
Here are some creative ideas being seen in wedding catalogues and registry wish… Read more >>
Jun 10, 2017

How to be money-smart in retirement

in Finance and Money by News Canada
Many of us look forward to retirement as an opportunity to pursue new goals or… Read more >>
Jun 10, 2017

5 minor mistakes that can cost you big on car insurance

in Finance and Money by News Canada
Although basic insurance standards vary from province to province, all Canadian… Read more >>
May 17, 2017

C’est Moi: Her story, our story

in Movies by Meres J. Weche
As we celebrate Canada’s 150th anniversary this year, a new short-film by… Read more >>
Apr 07, 2017

Ngozi Paul explores the power of imagination

in Arts by Meres J. Weche
In her one-woman play The Emancipation of Ms. Lovely, currently running until… Read more >>

Search Site

Latest on Instagram

Featured Events

01 Jul 2017 11:00 – 02 Jul 2017 23:00
Woodbine Mall Outdoor
Festival

01 Jul 2017 20:00 – 22:00
Sony Centre For The Performing Arts
Music

Find a Job

Join Our Mailing List

Copyright © 2005 - 2017 Culture Shox Media Inc. All rights reserved unless otherwise stated.

Privacy Policy

DMC Firewall is a Joomla Security extension!