5 or so years until you retire

The countdown has begun! Retirement isn't a distant dream anymore. It's time to step up your plans. Some people will have to get cracking and create a preliminary action plan, while others just need to keep the ball rolling.

Money matters

Create a monthly budget so you can…

  • Look for expenses that should be eliminated once you retire and see if you can get rid of some of them now
  • Develop an action plan to pay off as many debts as you can, including your mortgage
  • Set aside as much as you can for long-term savings 

Go over your retirement savings strategy so you can…

  • Get a clear idea of your retirement goals
  • Identify your retirement savings needs
  • Lower your portfolio's risk level as you get closer to retirement
  • Add investments with guarantees to your portfolio, like the Helios2 Contract

Need help with a retirement savings strategy?

Tips from an expert

Talk to a representative or a financial planner about…

  • The sources of income available to you when you retire
  • How your investment portfolio is doing and whether the retirement date you've chosen is realistic

Talk to your employer so you can…

  • Learn more about the terms and conditions of the group retirement savings plan and the group insurance plan for retirees
  • Take a pre-retirement course (if offered)

Contact the Canada Pension Plan or the Régie des rentes du Québec so you can…

  • Get a statement of the contributions you've made to date
  • Determine whether you'll be applying for benefits before you turn 65 and if so, whether any penalties apply