The 4 Phases of Saving for Retirement in Canada
Your 20s, 30s, and even 40s might be too early to think about retirement, right? Nope! Bloomberg says you need to start saving at 25 when saving for retirement in Canada and the US.But saving is just one part of the puzzle. Our financial advisors walk clients through four phrases of retirement saving: earn, save, grow, and preserve. If you’re interested in learning more, you’re best bet is to find a financial advisor today.But in the meantime? We’ll break down the four phases of retirement for you to help you master saving for retirement in Canada.Let’s dig in! How much should I be saving for retirement in Canada? Depends on who you ask. Sunlife says anywhere from 40% to 70% of your pre-retirement income; Canada Life says 70% to 80%. We’re inclined to agree with Canada Life on this one. Why? Because you can’t imagine how much inflation eats at your money over the course of decades. Also, most consider
Continue reading