You're going to be retired before you know it! And, if everything's on track, all your planning should already be paying off. The next few months are just a matter of fine-tuning some minor details so you can enjoy your hard-earned retirement.
But if you haven't already got a jump on your retirement planning, it's not too late to set up an action plan, even if you'll have to make some adjustments based on your retirement date.
If you've already got a plan, but you haven't made much headway, you can start by updating it.
Create a retirement budget
This budget (PDF, 382 KB) will help you:
- Get a better idea of your new financial priorities and how much money you're going to need
- Figure out where your income will be coming from
- Determine whether the retirement date you've chosen is realistic
Tips from an expert
Talk to a representative or a financial planner about…
Talk to your employer so you can…
- Determine how much income you'll be getting from your group retirement savings plan
- Find out which group insurance coverages you can keep after you retire
Contact government agencies:
- The Canada Pension Plan (CPP) or the government agency responsible for your provincial pension plan
- The government agency responsible for your provincial healthcare plan to update your status and sign up for any applicable programs