Blog

The Best Places to Retire in Canada

July 13, 2016Living in Retirement

Though your hometown may seem like a great place to settle down and enjoy your retirement, MoneySense reviewed over 200 communities across Canada and rated them based on what the Best Places to Retire in Canada are. Choosing the right place to retire may be more than just being close to family, you may also want to consider weather, accessibility and the cost of property taxes.

View the MoneySense video below for more details on the top three places to retire in Canada.

Budgeting for Retirement

Lack of time is a top reason that people give for not planning for retirement, do not be discouraged – there is still time. You can start by adjusting spending and saving habits immediately.

20 years from retirement

If you have children, the 20 years from retirement time period could look very different, depending on whether or not you are saving for their education. If you had your children in your 20’s, you may be an “empty nester” who is looking to spend some money on yourself. As you get closer to retirement, you may have a better sense of what you want to do in retirement and how much it will cost for you to get there.  This is a crucial time for you to adjust spending and saving habits with a view on the future!

10 years from retirement

This decade is when you really focus on saving for retirement. It’s possible that as much as 80% of retirement savings get set aside during this time. Generally by this time, you should be increasing savings rates and eliminating debts.

Speak with a FaithLife Financial Representative and start saving today and you will be pleasantly surprised at how quickly your savings will add up so that your retirement is the move that you planned for.

 

Original article by AdvisorToClient