Planning For Retirement

Are you planning for retirement and concerned about your savings? Whether retirement is a few years or even a few decades away, CL can help you- like we’ve helped thousands of our clients across the GTA to identify financial solutions, investments, and strategies to make your savings last.

Ensuring you have a consistent source of income will allow you to maintain your lifestyle in the future if you change how much you work. In retirement, it’s important to go beyond accumulating assets and to understand how a stream of income provides you with freedom and stability. Building a portfolio of tools now that will generate the income you need later is an important part of retirement planning. 

In addition to generating income, you may want to take into account things that might disrupt your plan, such as health-related expenses (or children that never move out, or a spouse that does move out but takes half of your things). There are solutions you can put in place that can help you prepare to cover these events and protect you and the lifestyle of your loved ones.

It's never too early to put a strategy in place that will help provide income for the rest of your life, even if you have many years until retirement. Remember, in retirement, if you've got income, you've got it all. 

Retirement Income 

 If you have money you’ve already saved for retirement, you can transition it to income for the rest of your life. We have financial solutions that provide you a reliable way to create recurring and consistent “paycheques” after you stop working.

Protecting your Finances from Health Events 

 Planning for long-term care will help protect your income from being disrupted by unexpected health expenses, giving you the peace of mind to enjoy your retirement.

Supplemental Income in Retirement

 If you already have permanent life insurance, you may have access to cash value that you can use for income in retirement. Additionally, maintaining life insurance in retirement can help you pass on benefits to your family and community.

Tips for Retirement Planning

1Your lifestyle in retirement is driven by the income you'll have
Not by how much money you have in the bank.
2The more bills you have, the less income is left
If you start paying down what you owe now, you’ll have more spending money in retirement.
3Taxes can disrupt your finances in retirement
Everyone should consider speaking with a tax expert as they prepare for retirement.
4Health events can disrupt your lifestyle
As you age, the likelihood that your health begins to deteriorate is almost guaranteed. Protect your assets and your loved ones in the event this happens.
5Consider what you want to leave behind
Having life insurance even at older ages can allow you to give back to your community and family.