Canadians are living longer, healthier and more active lives. As a result, retirement has become a long-term proposition, and potentially a more expensive one. That makes an effective financial retirement strategy more important than ever.
Building an adequate retirement income can be a daunting task. According to Statistic Canada, Canadians who are over 65 receive more than 40% of their annual income from government pensions. Sadly, about half of Canada’s seniors live near or below the poverty line. There are ways to counter this and achieve a comfortable financial future. On average, Canadians should plan on replacing 75% to 85% of their pre-retirement income.
At Progressive Financial Strategy, we can help design a retirement plan using a range of different tax and investment strategies, after evaluating your retirement needs and objectives.
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