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RETIREMENT ACTION PLAN CHECKLIST​


​1. GETTING ORGANIZED: GATHE​R THE FOLLOWING FINANCIAL DATA

  • Pension benefits statement, booklet, and documentation
  • Most recent investments statements (RRSPs, TFSAs, LIRAs, RRIFs)
  • Insurance documents, wills, and powers of attorney
  • Canada Pension Plan (CPP) statement
  • Debt statements: mortgages, lines of credit, credit cards and loans
 

​2. HOW MUCH WILL YOU NEED? ESTIMATE LIFESTYLE EXPENSES

  • Create a budget that addresses basic necessities, major expenses, travel, fun and leisure
  • Make a list of your top 5 financial and lifestyle expenses
  • Explore costs for health and long term care in your region

​3. HOW WILL YOU FUND YOUR LIFESTYLE? OUTLINE INCOME SOURCES

  • Assess the best time to access Government Benefits (CPP and OAS)
  • Estimate your annual pension plan benefits (if applicable)
  • Determine how much sustainable income your investments can produce annually
  • Include other potential sources of income (part-time work, small business) 
 

​4. MAPPING OUT LONG TERM FINANCIAL PROJECTIONS

  • Set your target retirement date
  • Understand how much you need to save to reach your income goal
  • Incorporate assumptions for inflation, investment returns and life expectancy

​5. PUTTING IT ALL TOGETHER

  • Have a clearly written plan in place, work with a Certified Financial Planner if you need assistance
  • Have clear, long-term income and expense projections
  • Have a clear understanding of how to utilize proactive tax planning opportunities​

retirementinview.ca​​ 240 Catherine St Suite 201 Ottawa ON K1S 1W8 613-416-9593

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Let's Work Together:

Retirement in View provides professional, independent financial advice​

Learn Smart Strategies to:

  • Organize your finances 
  • Reduce anxiety and stress around money
  • Gain confidence when making financial decisions
  • Bring peace of mind to your retirement plans​

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www.retirementinview.ca  

613 416-9593  info@retirementinview.ca


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