My retirement income plan
You have probably accumulated the savings you need for retirement in different plans. Now that you’ve built up a nice nest egg, from where should you start drawing your retirement income?
A well-thought-out strategy
Many points should be considered before you start withdrawing funds:
- The tax impact
- Major expenses (e.g. car purchase, home repairs)
- The state of your investment portfolio
- The possibility of receiving the Old Age Security (OAS) pension.
It’s important to have a structured plan to make the right choices.
A balanced portfolio
Many things affect the performance of your portfolio. The two key factors are:
- Your asset allocation. This is the factor that has the greatest long-term impact on the stability of your returns.
- Diversification of your assets.
These two factors determine your portfolio’s capacity to weather market fluctuations. It’s essential, therefore, to have a personalized asset allocation plan. Aim for above-median performance and avoid changing your plan for emotional reasons.
Make your life easier!
Tax rules change, as do your needs. Review your plan once a year to make sure it’s still appropriate. Our Wealth Management Advisors can help you prolong and optimize the total decumulation of your assets.
Beyond taxation, master this new stage of your life by participating in customized conferences organized each year by Professionals’ Financial. Register for our Retirement Experience Weekend, a series of dynamic workshops that deal with the realities of professionals and that focus on different aspects of retirement (psychological, social, taxation, investment, insurance, etc.).
A strategy for each season
Each season, there is a strategy tailored to your situation to optimize the decumulation of your assets or to maximize your investments. Take full advantage!