Wednesday, April 24, 2019

Retirement Planning - have you planned yours??





This week we've been learning about different ways to save for and plan for retirement in Canada.
We're learning about RRSP's, TFSA's, RRIF's, GIC's and government benefits such as CPP, OAS, GIS.

 Here is a link to read and there are also two videos to watch to help you make a plan for retirement.


All Canadians have to decide how much income they will need each year ( approximately) for an average of 25 years (if you retire at 65 and die at 90 - if they are lucky :)

 https://globalnews.ca/news/3981582/how-much-to-save-for-retirement-canada/

 Please watch the first video. Then scroll down and read the information about the comparison between Joe SuperSaver and Ordinary Joe. The INFO-GRAPHIC to compare the two is very informative - do look at that to give you a quick summary.

 Reply to this post with what you learned from this comparison - are there any new ideas you have about retirement savings that you didn't have before? Any changes you must make? Write a short paragraph as a reply to this post. Use as many money idioms from our list as you can. 

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17 comments:

  1. bananApril 25, 2019 at 11:14 AM

    This comment has been removed by the author.

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  2. khadijaApril 25, 2019 at 11:18 AM

    This comment has been removed by the author.

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    1. Marcie JApril 25, 2019 at 11:24 AM

      Nice Khadija! :)

      - as they say: Save for a rainy day

      Delete
    2. khadijaApril 29, 2019 at 10:51 AM


      Having a good financial plan is good for the future of the entire family, squirreling away today will not let you run out of money tomorrow .As they say:save for a rainy day .

      Delete
  3. Vielka ZambranoApril 25, 2019 at 11:25 AM

    The retirement is a topic very important because this about our future. When the time comes to retire I would like to be calm and not pinch pennies like now. I would like to find a good balance between spending for the life in the present and spending for the future. I think is very important start to save in the present. My husband and I would like to squirrel away as much money as we can for the retirement.

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  4. bananApril 25, 2019 at 11:26 AM



    Absolutely we need to prepare saving plans for future and not to blow our money. The government offers many saving accounts like RRIF,RRSP and TFSA etc. For me, I prefer to squirrel away my money as gold coins, in this way you can save the value of your money and could be raised later.

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  5. SatrunZuhalApril 25, 2019 at 11:29 AM

    We're supposed to guarantee our future. For this I always want to keep good balance in my account. I would like to squrriel away as much money as I can for retiretment and pinch pennies when I am younger.
    As mentioned, your RRSP and TFSA are definitely the means of investment you can use to invest in various assets. So Which do I evaluate and invest in the best pension plan in Canada?

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  6. Sabiha FaruquiApril 25, 2019 at 11:30 AM

    Today we are learning new things how we will save money for retirement. I have idea first you save money then invest in any land or property.

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  7. Iotus flowerEnglish blogApril 25, 2019 at 11:37 AM

    I believe on saving earlier. I think it’s a good idea for the future, because I don’t wanna end up broke.

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    Replies
    1. Marcie JApril 25, 2019 at 12:03 PM

      haha - good one Ishrat! When you write, don't write "wanna" - do this only when you speak. You must write "want to"

      Delete
  8. Sadaf Khan BlogApril 25, 2019 at 11:38 AM

    Making plan for your future is very important for you and your family.Investment in RRSP and TFSA ia a good idea. Squirreling away today will not let you down and you can keep tract of your savings.

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  9. shazaenglishApril 25, 2019 at 11:41 AM

    we may not be able to save that much, life goes difficult and our muny run out. but we don't want our retirement nest egg to be broke.I think we should start our plane with guidelines from a financial adviser and not forget to include our CPP and OAS in our muth, and little bed try to find new way for investment.

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  10. LunaApril 25, 2019 at 1:51 PM

    Saving in the RRSP is a good way to have something safe for the future. To squirrel away an coins to save short and long term and make a good balance in life because you have to enjoy it now and when you get old.

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  11. Mohammad SaleemApril 25, 2019 at 2:31 PM

    I Think mostly retirement plans in Canada are very helpful, which most of the other parts of the world don't have.
    In my case since I didn't worked and contribute, I have to stick with only that savings which I brought from abroad.
    OR have to wait for OAS.

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  12. noor.azarApril 25, 2019 at 4:52 PM

    Canada pension Plan is the best way for old age residents,when they retired.The government of Canada prepared several choices to Canadians to spare their money during work periods.The best one is Tax Free Saving Account;because the bank don't take benefit of this money. The people who can spare money will be comfortable after retirement.I adhere this law.It is the excellent way of protection of old age residents. long live Canada!

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  13. AnonymousApril 25, 2019 at 7:35 PM

    Thinking and planning for my future and retirement plan is very important issue when I was younger I started to pinch pennies also right now I like to squirrel away as much money as I can.
    After our lesson I notice there are very useful plans in Canada for retirement like RRSP,CPP,OAS and TFSA sure in the future when I get a job I will enroll with one of these plans maybe more than one.
    Right now I always try to make a good balance between spending for life and spending for the future.

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  14. sobiaNovember 5, 2019 at 7:36 AM

    For true fans of this thread I will address is a free online! Retirement Planning

    ReplyDelete

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