Retirement means different things to different people, the one thing it says for almost all of us is that we are transitioning from the ‘income earnings and savings’ years to ‘spending and protecting’ years. For some, it’s a daunting proposition.
What Does Retirement Mean to You?
Defining what retirement means to you is the starting point, the time you take now to prepare for those years ahead, it will set you up to enjoy a secure, healthy and enriched life. Working together over the years and months leading up to this stage will ensure that you are prepared when the day arrives to start the rest of your life all the pieces in place. And we’ll be there beyond this day to help you continue to plan for the future.
As Retirement Approaches Keep These Milestone Ages In Mind
- 60 – First eligible for Canada Pension Plan (CPP) benefits – with reduced benefits
- 65 – Full retirement age of CPP
- 70 – Maximum CPP and OAS Benefits
- 71 – Must convert RRSP to RRIF or annuity before the end of the year you turn 71
- 72 – Required minimum RRIF distributions begin the year you turn 72.