Retirement takes careful planning and preparation. Most of us don’t want to work full-time well into our golden years. As we get older, we’d like to slow down and enjoy life. The sooner you start, the easier the transition into retirement will be. Here are 10 things you need to stop now if you want to retire in Canada.
Confusion around how much you need to save
To get you started, you can use the Government of Canada’s handy retirement income calculator, which will give you a ballpark figure of how much money you’ll need in retirement.
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Living beyond your means
Not saving your money
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Up-scaling your lifestyle too quickly
Not maximizing your employer’s RRSP matching
Not taking care of your health
Not teaching your children financial independence
Not learning new things
Not developing multiple streams of income
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Putting all your money in high-risk investments
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