For most Canadians, retirement is a major financial goal that requires considerable financial commitment. 49% of Canadians hope to retire before the age of 60. (Statistics Canada, Summer 1997 Perspectives and Labour Force Survey). Whether you have already established a Retirement Savings Plan or are just beginning, it is never too late to begin saving.
There are many questions surrounding how to plan for retirement. We have compiled some key information and planning tools to help you start saving successfully for your retirement:
- What should I do first?
Retirement Planning is a primary financial goal for most Canadians. Whether you have a savings program in place, or are interested in one now, visit our RSP Contribution Calculator. Use this tool to determine how much will be available for your retirement.
To go a step further in planning for retirement, Your Retirement Strategy is a personalized, easy-to-read retirement plan. Simply complete the short questionnaire and we will advise you of the savings amount required to meet your retirement goal.
- What next?
Remember these three "s" words. Save now, start now and stay invested. Begin by investing what you can and try to increase this amount every few months. TD Canada Trust's Personal Transfer Service Pre-Authorized Purchase Plan allows you to make weekly, biweekly, semi-monthly, monthly, quarterly or annual contributions to your RSP. Remember, small amounts can accumulate significantly over time. No matter when you start investing, the key is to stay invested as long as you can. The longer you hold your investments, the more they will benefit from compound growth.
- What is diversification?
Diversification is the financial equivalent of not putting all your eggs in one basket. You spread
your risk by investing in several different investments, therefore reducing the impact of one poor performer in your
portfolio.
Act now. There's an RSP investment that is just right for your retirement goals. Open
an RSP now by applying online, visiting your local TD Canada Trust branch, or contacting TD Waterhouse or TD Asset Management Inc. We would be pleased to discuss your retirement goals and investment options.
|
