When you’re starting your career or still in school, caught up in a whirlwind of personal, family or other activities, it’s very hard to think of retirement. In the short term, everything remains to be done: pay off your student debt, buy a home, invest in your professional practice, the list goes on and on.
The future is now!
Trying to save to achieve your goals? That’s great! Do you have a good financial plan? A realistic, balanced budget to pay off your debts and start saving? Do you have a Registered Education Savings Plan (RESP) for your children? Your choices will have a medium- and long-term impact on your retirement and, however you may feel about it, it’s never too early to start planning for that stage of your life.
Retirement is not what it used to be in our parents’ time. Today, you can stop working before age 60 or 65, or retire gradually. Life expectancy is increasing, as is the retirement period, which can be 30 years or longer, as the case may be. How will you live? Although you probably can’t answer that question, you can take concrete steps now.
Time is money!
For example, you can kill two birds with one stone by contributing early to a Registered Retirement Savings Plan (RRSP). Your tax refund can be invested, serve as leverage for the purchase of a home (HBP), or enable you to return to school under the Lifelong Learning Plan (LLP). Time is on your side: a small amount invested regularly can go far!
When you’re in school or starting your career, sound management of your finances is a must. Since tax rules are always changing, it’s often difficult to know the best course of action.
The solution: ask a Professionals’ Financial Advisor for guidance. Your Advisor has all the necessary expertise to help you make the right financial and personal choices.
To secure your future, between now and retirement, Professionals’ Financial offers you:
A good exercise
Even if retirement is not top of mind, preparing an action plan is the foundation of any project, whatever it may be. It’s a good exercise to determine your priorities and help you make informed decisions.
Make the right decisions from the start!
As part of its New Practice Weekend, Professionals’ Financial informs you about the different issues that may be of concern to you. Debt repayment plan, incorporation, insurance and billing are just some of the topics covered during these weekends, whose purpose is to help you start your professional practice on the right foot.
It’s not too soon to become well informed and to get help with your choices. There’s a strategy tailored to your situation. Talk about it with one of our Advisors.