When is your next vacation???

If you are like most people, you can probably answer that question. You can tell me where you are going, how long you will be gone, where you are staying, and how you are going to pay for it. You probably planned for it months in advance and have purchased travel insurance. When I ask people when they are going to retire, where they are going to live in retirement, and how they are going to pay for it, very few people have an answer. We are living longer and for many, retirement is now a 30 year vacation.  It is wonderful if you have a pension or if you are making regular deposits into an RRSP. Have you ever wondered if it’s enough? What income do you need to retire living the life you want to live?   If you are relying on CPP and OAS, it probably isn’t enough. The right financial advisor can answer those questions for you. They can tell you how much you need to be putting away to have a certain income. They can show you if your money will outlive you. They can account for inflation and plan for market crashes like in 2008. Does it not make sense to put more energy into planning your 30 year vacation then your annual 1 – 2 week vacation?

If you have any questions, I would love to hear from you!