The Top Five Retirement Secrets That You Aren’t Supposed to Know About
Most people think that when it comes to retirement planning, there’s only one right way to do things. But what if there were secrets to retirement planning that you weren’t supposed to know about? What if there were ways of doing things that the experts didn’t want you to know about, because they made more money by keeping you in the dark?
In this article, we are going to reveal five such secrets. Read on and start planning your retirement as a Canadian in a whole new way.
1. Save More Than You Think You Need
The first secret to retirement planning is that you should always save more than you think you need. This may seem like obvious advice, but it’s something that a lot of people don’t do. They think that they can get by with saving less, because they’ll just have to cut back on their lifestyle in retirement.
But the truth is, you can never really predict what your expenses will be in retirement. You might have unexpected medical bills, or you might want to travel more than you thought you would. It’s always better to be on the side of caution and save more than you think you need.
2. Invest in Yourself
The second secret to retirement planning is that you should always invest in yourself. This means taking the time to learn new skills, and to stay up to date with the latest trends. It also means investing in your health, so that you can stay active and healthy well into your retirement years.
Self-investment is something that a lot of people neglect, but it’s really important. After all, you are your own best asset! By investing in yourself, you’re ensuring that you’ll be able to enjoy a high quality of life in retirement.
3. Diversify Your Income Streams
The third secret to retirement planning is that you should diversify your income streams. This means having more than one source of income in retirement. For example, you might have a pension, but you could also have rental income, or income from one of our cash producing investments.
Diversifying your income streams is important because it gives you a buffer if one of your income sources dries up.
4. Make the Most of Your Employer’s Retirement Plan
Your employer’s retirement plan is one of the most valuable tools at your disposal, so it’s important to make the most of it. If your employer offers a matching contribution, ensure that you are contributing enough to get the full match. This is why we also offer an RRSP option, to help maximize your wealth growth.
5. Plan for Longevity
The last secret to retirement planning is that you should plan for longevity. This means doing things like buying long-term care insurance and making sure that your estate is in order. It also means making sure that your retirement savings will last as long as you need them to.
Longevity planning is something that a lot of people don’t do, because they don’t like to think about their own mortality. But the truth is, it’s important to be prepared for the possibility that you will live a long and healthy life.
By following these five secrets, you can be sure that you’re getting the most out of your retirement planning. So don’t wait – start planning for your retirement today & contact us today to start growing your wealth!