Income for Retirement: Keeping the Dreams Within Reach

No matter what stage of your life you are at, whether it be just starting out, settling into your dream career, or on the verge of retirement, you need to make sure that your financial planning ensures your income for retirement. Not only should you be asking “how much money do I need to retire,” but also, “how can I save that money?” It is always smart to be ready for anything. 

With proper retirement planning, you can be sure that your income for retirement will allow you to relax and enjoy your time off. Whether you are planning to take that relaxing cruise down the Mediterranean every February, stopping off in Monte Carlo for a few nights, or just want to be sure that you can provide for your family while still keeping up your regular social life around town, you have to make sure that the funds necessary to maintain these lifestyles are available.

In order to answer the question how much money do I need to retire, there are many things to consider when you start planning your income for retirement. Your age, any dependents, and what kind of lifestyle you want to have are all factors that will influence the amount of money you put away each month or the types of strategies you adopt in order to secure income for retirement.

One of the smartest ways to ensure your income for retirement is through an annuity. By purchasing an annuity, you are basically securing guaranteed income on retirement. How? By making set monthly payments, you are guaranteed a lump sum payout when you retire. This means that you are continually putting away extra money each month, and once you can finally give up that day job you have access to those funds to use whichever way you want – whether it be the Italian Coast or your own backyard.

In answer to how much money do I need to retire, let us say this: everyone is different, but the choices that you make during your retirement planning will greatly impact your ability to relax during retirement and ensure that you have access to the funds that will allow you to keep doing what you enjoy. 

Are you asking yourself how much money do I need to retire? Solve the riddle that so many struggle with the easy way – speak to your insurance broker about guaranteed income on retirement annuities.

Take a look outside. Chances are this is not the type of weather that you will always want to enjoy over the long Canadian winter months. Keep those dreams of yearly snowbird trips alive by planning smart for your income for retirement.

For more information on how to answer the question “how much money do I need to retire,” or to start planning your income for retirement, please contact Gary Mandel at Independent Financial Concepts Group at 416-849-1653 or visit www.wecoveryou.ca.