Have you paid off your mortgage and avoided debt?
Have you continued making contributions to your RRSP?
If you have children, have you been saving money for your child's education or will you need to fund this out of your future cash flow?
Do you have any extra cash that can be invested for early retirement or other goals?
If you have a spouse or partner, will your future sources of retirement income be equally divided between you?
Should you be implementing any income-splitting strategies now to balance your future cash flows?

Catch-up contributions can help build your portfolio even faster

Like many people at this stage, you may feel it's time to "catch up" on saving for retirement. Now's the time to contribute the maximum to your RRSP each year, and to take advantage of any unused contribution room carried over from past years. For people planning to increase their existing monthly contributions, an RSP loan gets your future invested dollars working for you today.

The money you invest now can have more time to grow. You can use the resulting tax refund to help pay off the loan, and paying off the loan on a monthly basis is a good form of forced savings. Does it make sense to take out an loan? Talk to your Altamira Advisor for some personalized advice on whether an catch-up loan is right for you.