5 Ways to Make Retirement Planning Easy

Many of us are looking forward to the day when we can pack it in and say goodbye to the office or whatever place we call work. But a 2014 survey highlights the fact that most Canadians believe that they haven’t saved enough to live comfortably in their ‘golden years.’ So what can you do to grab hold of your financial future? Here are a few tips to make retirement planning a little bit easier over the long haul.

1. Start early.

As we get older, we all wish we’d had the foresight to start planning for retirement at age 18. Unfortunately, the reality is that most of us don’t. However, the earlier you can start thinking about a plan, the better. Putting things into motion when you’re 30 rather than when you’re 50, for example, can give you a lot more flexibility and peace of mind about your retirement.

2. Speak with a trusted financial advisor.

Retirement planning should generally not be taken on alone. RRSP, RRIF, TFSA, annuities – all the different approaches to saving up a nest egg can make your head spin. Rely on the advice of experts, like us here at Oegema, Nicholson Financial Inc., to guide you through the process and make sound recommendations based on our financial planning expertise.

3. Set Goals and Develop a Plan.

This is something that a financial advisor can really help you with. When do you envision yourself retiring? What course of action do you have to put into place now, in 10 years, or 20 years down the line? It’s difficult for many people to think that far ahead and project things, so a financial advisor can assist you in developing a roadmap to follow for financial freedom.

4. Revisit Your Strategy Over Time.

With that being said, it’s recommended to revisit your strategy at least once a year and make adjustments according to the circumstances of your life. Major changes – kids, moves, job changes, medical issues – are almost certainly bound to happen and your retirement saving plan should reflect the reality of your situation.

5. Pay Yourself First.

There may be times throughout the ups and downs of life when you’re tempted to take some money out of retirement funds and divert them towards something that comes up in the more immediate term. Resist the temptation whenever possible; if that means setting up auto-deposits to certain accounts that draw directly from your paycheque, all the better. Oegema, Nicholson Financial Inc. offers an array of financial services designed to meet your needs and make your retirement dreams a reality. Get started today by having a look at some of the financial products and services we offer or contact your local Oegema, Nicholson office to speak with one of our financial security advisors.