If you are under age 35...
Retirement planning is possible
When you have to make mortgage payments, pay for the care and education of your children and repay your student loans, retirement planning may not seem like a priority. Even if your retirement seems a long way off, you have an advantage that many others don't: time
5 suggestions to help you make financial plans for retirement
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Begin putting money aside as early as possible!
Why? Because by saving early your investments will have more time to grow. Here's an example of the accumulated value of an RRSP to which you contribute 100 $ every month until age 60, depending on the age at which you start making contributions.
| Interest rate |
|---|
| If you begin at | 4% | 6% | 8% | 10% |
|---|
| Age 25 | 89 992 $ | 137 360 $ | 214 257 $ | 339 879 $ |
| Age 35 | 50 885 $ | 67 629 $ | 90 899 $ | 123 332 $ |
| Age 45 | 24 466 $ | 28 691 $ | 33 761 $ | 39 844 $ |
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Take advantage of various savings instruments!
Find out about various way to make your money grow.
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Invest a little or invest a lot, but INVEST!
Every sum invested counts!
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Project your retirement income regularly
Use CompuPension, our tool for simulating retirement income, at each of life's turning points. Determine your financial needs and adjust your savings plan as needed, with the help of your financial planner.
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Consult a financial planner
You should consult a financial planner as early as possible to find out if your financial, tax and investment strategies are optimal. Then you can make intelligent choices.
Be sure your financial planner is certified by the Autorité des marchés financiers du Québec.
Not to be missed...
Flash RetirementQuébec