Life can sometimes change your financial plans. Make sure your plan stays current and is flexible enough to adapt to some of the events you might experience in this stage of life.

Step 1 - Setting your retirement goals Step 2 - Determine how much you'll need to retire successfully Step 3 - Calculate your retirement income Net Worth Calculator Download the brochure

Early retirement

There’s no such thing as job security in today’s competitive environment. If you lose your job, or are forced to take an early retirement package, you’ll want to talk to your Altamira Advisor for advice on what your options are. To start with, discuss transferring as much of your severance package as you can into an RRSP to avoid paying unnecessary tax. If you’re offered a lump-sum cash payment in lieu of pension, your Altamira Advisor can show you how transferring these funds into a locked-in plan will allow you to increase your potential income during retirement.

Eldercare

For many, the issue of having to provide care for an elderly parent or in-law has significant practical and financial implications. If you have parents, elderly guardians, or other loved ones nearing a stage in their lives when extra help is required, you’ll need to take a look at all of your options and factor the future costs into your personal financial and retirement planning. Set aside private time with your aging loved ones to discuss concerns, and plan for future care well in advance of when it is needed.