Common Elements of Cash Flow Planning

There are many common aspects of a strong retirement plan. The four most common are:

Registered Savings Plans (RRSP/TFSA), Registered Income Funds (RRIF/LIF).

Pension Plans & GIS: The Canadian Pension Plan (CPP), Quebec Pension Plan (QPP), Old Age Security (OAS), and Employer Pension Plans.

Unregistered Accounts:  Cash and Margin accounts.

Other Sources of Income: Rental Properties, Annuities, Business, or other.

Develop an appropriate strategy to prepare for retirement

Understanding a few key issues will help prepare you for a retirement with fewer financial surprises.

For example, how would you like to retire? What are your projected expenses and income sources? Do you know what your assets and debts are?

This information will also help your Advisor develop expense, investment, and income strategies, as well as suggest tax saving products, that could potentially make your assets last longer or allow you to achieve your desired retirement lifestyle sooner.