Everyone wants to retire someday.
They want to sit back and relax while enjoying their golden years after a lifetime of working for a living.
The earlier you begin saving for your retirement, the better off you will be.
However, there are a number of different plans that can be put into place to ensure that your retirement
accounts earn enough interest for a solid future.
So where do you begin?
Having a Good Financial Planning System
Whether you want to own a second home strictly for vacation, or simply wish to not worry about money
after your retirement, you need to start with having a good financial planning system.
Every good retirement plan should begin with an emergency fund of at least three to six months of your
total living expenses. This will ensure that emergencies are taken care of as you contribute toward your
retirement savings.
Then you can begin to deposit into your retirement account.
Yet, determining the amount you deposit depends entirely on your unique situation.
Our expert accounts at Liu & Associates can examine your finances and help you budget a reasonable
amount to contribute toward the retirement you dream of.
Choosing a Retirement Plan
Do you know which retirement account is best for you?
Not many people do – and with so many to choose from, it can be a confusing process.
Have you ever asked yourself these questions:
- Can I rely on an employer’s retirement plan?
- Should I contribute to a RRSP?
- Would it make sense to purchase a second home?
- Should I open an interest-bearing account?
- Is it worth setting up a business succession plan?
Let Liu & Associates answer these questions for you to help you get on the right path to retirement.
We can take the confusion out of determining how much you will need to retire and where to invest your
money for maximum return!
Saving for Retirement Can Be a Challenge
The days of living a pension and government-supported life beginning at the age of 65 is becoming a
thing of the past.
Now, retirement is becoming based on your place in the workforce and your ability to make the most of
your savings.
More Canadians are staying in the workforce longer since career-based retirement benefits are on the
decline and the cost of living is increasing.
This places a new importance on wisely investing money for retirement as soon as possible.
No Amount is Too Small
Even a small amount stashed away in a bank account on a weekly or monthly basis can grow over time.
Plus, once you have a set amount in this account, you can use it to further your investments and earn
even more interest.
Liu & Associates knows it’s never too late to start saving for retirement – but the earlier you get started,
the better.
Our knowledgeable Edmonton accounting firm is ready to help you save for your future.
Are you ready to start making your retirement dreams a reality? Contact us today!