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Planning an active retirement

DFSIN - Offer itself the present of a well planned retirement

It will never be repeated enough: if you want to have the resources to benefit fully from your retirement, you have to plan for it properly. Planning is the best guarantee for a fulfilling and active retirement and for being able to maintain your standard of living.

Covering a topic as broad and complicated as preparation for retirement is not an easy task. Call on your financial services professional for help.

Insurance advice

Insurance coverage to enjoy an active retirement

You dream of starting your retirement with all your faculties intact, and being able to enjoy your numerous projects. If you should face an illness or disability, your insurance coverage would help you maintain your financial capacity.

Sources of retirement income

Annuities and RRSPs for an active life

The income you will have when you retire might come from any of 3 sources:
  • A retirement annuity paid by your employer;

  • Government pensions;

  • Your RRSPs – These have to be converted into an annuity or a RRIF by the end of the year you turn 71.
An annuity (term or lifetime) will provide you with additional funds all through your retirement.

Review your investment portfolio

First determine your investor profile to assess your risk tolerance. Then review your portfolio to make sure it corresponds to your profile.

Your retirement plan might include:
  • Guaranteed investment funds (segregated funds), which provide guaranteed income and coverage in case of death. These are becoming more popular than ever.

  • Guaranteed interest funds , which provide secure income.

  • Mutual funds, which offer interesting long-term growth potential.

Tax-saving suggestions for retirement

Tax credits

Find out about which tax credits and tax deductions you are entitled to, as well as any other strategies that will help you pay lower income taxes while you are retired.

Tax-free savings

Take full advantage of a universal life insurance policy to shelter your savings from taxes.

Legal aspects related to retirement

Plan your estate

Since you are starting a new stage in your life, it would be wise to review or write your will to make sure the assets you want to leave your heirs are distributed according to your wishes.

Plan your estate to shelter your descendants from paying a substantial tax bill.

In case of incapacity

Consider setting up a mandate in case of incapacity. This is a document that gives a person of your choice the power to take care of you and your property, in the event you would not be able to do so anymore.