9 Questions to Think About when Planning your Retirement Nov 13th

Not sure how to make a retirement plan? Read on…

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9 Questions to Think About when Planning your Retirement

– rhondasherwood.com

If you’re like most people, you probably don’t have the time to assess your future retirement needs. However, with increasing life expectancies and concerns over the stability of our health care system and government/private pension plans, planning your retirement is a must.

Planning your Retirement: Questions to Ask Yourself
To help you get started, here are some questions to think about:
1. How much money will I need to last throughout my retirement years?
Some experts say you’ll need up to 70% of your pre-retirement income to support your retirement lifestyle.
2. What will be my sources of retirement income?
Relying just on government benefits is a mistake. Canada Pension Plan (CPP) and Old Age Security (OAS) make up only one-third of your total retirement income needs, on average.
3. How long am I likely to I live? How long did my parents/grandparents live? How is my overall health?
A legitimate concern for many people is, “Will I outlive my money?” You’ll have to consider how to make your money last for your projected lifetime…

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