How ready are you to retire?

Canada Life - May 15, 2021
It’s time to take charge of your money. Get retirement ready, your way
Woman with surfboard

You’ve worked hard and you deserve to enter retirement with confidence. Maybe you’re taking care of mom and dad, watching the grandkids, moving to a new city or starting a new hobby. But the world looks different today than it did even two years ago, and for many of us, retirement looks different too. 


COVID-19 has made it hard to plan a simple get-together. Meanwhile, market volatility has many of us worried about our financial plans – especially those of us who are close to retirement. 


Research from Canada LifeTM shows that views on retirement tend to be less positive with age – as we get closer to retirement, we’re less excited about it.* The same survey also found that 50% of women worry about running out of money in retirement – are you one of them?* 


If you’re within five years of retiring, here are some questions you may be asking yourself:

  • What does my daily/monthly/yearly budget look like?
  • How much should I be contributing more money to my retirement savings right now to live comfortably in the future?
  • Do I know the tax implications of taking money out of my RRSP or other investments?
  • Are my investments protected from market downturns?

It’s time to take charge of your money. Get retirement ready, your way. Start by watching this video.


View video transcript:

 

Description: This video combines impactful words with footage of Canadian women close to retirement.

Narrator: You do it all.

Description: “You do it all” repeats across the screen in large text. A middle-aged woman bikes on the side of a road near a lake. Mountains appear in the distance.

Narrator: You’re unstoppable.

Description: “You’re unstoppable” repeats across the screen in large text. A mother sits on the edge of her bed holding her swaddled newborn baby.

Narrator: But when it comes to retirement, you might not feel ready because you’re worried you haven’t saved enough.

Description: A woman sits at her kitchen table, reading her statements. A stack of papers sits on the table next to her.

Narrator: But you’ve worked hard for this.

Description: “You’re worked hard” repeats across the screen in large text. A nurse in a mask takes a patient’s temperature.

Narrator: and you deserve to take this next step with confidence.

Description: An athletic woman jogs down a wooden bridge in a park.

Narrator: An advisor can help you build a plan.

Description: A barber smiles while talking on a cordless phone. She gives a young girl with long hair a trim.

Narrator: so you can afford the retirement you want.

Description: A surfer in a wetsuit stands on the beach at dawn, holding her surfboard.

Narrator: They’ll provide expert advice to help you choose the right investments based on your comfort with risk.

Description: A women sits at her desk, typing on a laptop. The back door of her home is open to a lush garden in the distance.

Narrator: draft a budget and ensure your family is taken care of.

Description: A mother holds up her phone to take a picture of her teenage daughter wearing a graduate cap and gown.

Narrator: It’s time to take charge of your money.

Description: A woman in tennis outfit plays pickleball on a court outside with her husband.

Narrator: Get retirement ready, your way.

Description: “Get retirement ready” repeats across the screen in large text.

Narrator: To learn more, contact your advisor.

Description : Words “To learn more, contact your advisor” appear onscreen with Canada Life logo and legal lines: Canada Life and design are trademarks of The Canada Life Assurance Company. canadalife.com 1-204-946-1190.


Sometimes it can be hard to ask for help – especially about a topic like retirement. If you’re anxious about planning and having enough money to last you, I’m here for you. We can check in on your financial plan and ensure your retirement is set up for success.

 

*D’Souza, P. and Nalli, R. (2020, November 23). Canada Life Journey to retirement.