Planning for retirement: one step at a time
Do you need to re-roof your house this year? Change your car before the baby arrives? Are you startled when you see your grocery bill? Life is expensive, there is no doubt about it! Nevertheless, it is important to put aside a little money, when possible, for the unexpected, for projects... and for retirement!
For a retirement without compromise
Eating out, travelling, going out with your family... What you like to do today, you will still like to do when you retire, and you certainly will not want to give it up due to a lack of money. On the contrary, you will want to take advantage of your newfound free time to enjoy it more.
To maintain your standard of living without changing your habits too much, it is essential to plan your retirement now.
The solution: preparing well
Retirement is an important step in your life and and preparing for it is a precious gift you can give yourself. Good financial planning will allow you to maintain your standard of living, to face the various financial risks that could arise and to ensure the successful retirement you want.
Where to start? Take one step at a time:
When saving seems impossible
Does saving for your retirement seem impossible in the current economic situation? Certain periods may put your financial health at risk. It is therefore normal for your ability to save to fluctuate over the course of your life, especially during such periods. The important thing is to be aware of the need to save and to start saving as soon as your situation allows. Invest for yourself!
3 key tools to use
Are you familiar with the SimulR and CompuPension tools, which simulate your retirement income? Retraite Québec offers these key tools for planning your retirement. SimulR allows you to quickly estimate your retirement income and savings needs. CompuPension allows you to carry out a more in-depth simulation using your personal data.
Your Statement of Participation under the Québec Pension (QPP) is another essential tool to discover. It shows you the total amount of your contributions under the QPP and your rights as a contributor. It also allows you to obtain an estimate of your pension amount based on the age at which you plan to apply for it. It provides a wealth of information and your financial planner will need it to determine your situation. Consult your Statement in My Account, your personalized digital space, and access your information and your documents easily.
For more information on financial planning for retirement: retraitequebec.gouv.qc.ca/jeplanifie