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Retirement Planning Basics

A good retirement plan connects income, savings, taxes, and timing. You do not need every number to be perfect before you start.

Start with the big picture

Retirement planning usually works better when you stop treating each question as separate. Income sources, withdrawals, taxes, and timing choices all affect each other.

Three questions to answer first

  • What do you expect to spend after tax in retirement?
  • What guaranteed income will you have from CPP, OAS, or pensions?
  • How much of the gap needs to come from your own savings?