Retirement Planning

Many of us dream of the day that we can retire and have the time to ourselves that we have dreamed of for so many years. But, to have a genuinely contented and relaxing retirement, you need to ensure that you have the means to afford it.

A retirement plan is a crucial process to undertake during your working life, as it will help you outline and achieve your financial goals for the future. However, making such a plan doesn’t have to be daunting –

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Registered Retirement Savings Plans (RRSPs)

We all know that a Registered Retirement Savings Plan (RRSP) is an effective and practical way to save money. RRSPs are ideal for those who are looking to ensure that they have adequate savings with which to retire, as well as those who are intent on growing a nest egg to benefit their family in the event of their untimely death. Together with a financial professional, a plan can be put into place, taking into account the individual’s capacity to save, as well as their future financial goals, providing financial peace of mind. 

Registered Education Savings Plans (RESPs)

An RESP is an investment vehicle used to save for education. If properly taken advantage of, it can be a very effective means of maximizing our savings efforts. In short, the money invested in the RESP will accumulate interest, which will help finance the education of the beneficiary or future student. When the time comes to utilize the funds, the subscriber, or investor, receives their principle investment back, tax-free (having already paid taxes on the original income). 

Registered Retirement Income Fund (RRIF)

A registered retirement income fund (RRIF) is an arrangement between you and a carrier (an insurance company, a trust company or a bank) that we register. You transfer property to your RRIF carrier from an RRSP, a PRPP, an RPP, an SPP, or from another RRIF, and the carrier makes payments to you.


An annuity is a financial product that provides you with a guaranteed regular income. Typically, it is used during your retirement years.

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