Retirement Planning

Whether you have accumulated retirement savings or not, the ECU Wealth Management professionals will work with you to develop the retirement plan that is right for you by providing guidance regarding the best ways to start saving for your retirement, the types of investment choices available, how much you will need to save, and how to protect the assets you have accumulated. If you are already saving for retirement, let ECU Wealth Management’s professionals evaluate your plan to see if you are on track.

Retirement planning doesn’t stop when you retire. We can help you with strategies for maintaining good returns on your investments, utilizing your accumulated savings more tax efficiently, and can assist you with maintenance or development of your estate plan.

Employer pension plans are one of the most convenient ways to prepare for retirement. The money is contributed pre-tax, and the earnings are not taxed until you start withdrawing the funds during retirement. These plans are generally well diversified and professionally managed.

An RRSP may be used to supplement your employer-sponsored plan, or as your primary retirement savings program. An RRSP is a government-sponsored plan which assists you in saving money for your retirement. Your contributions, within limits, are tax deductible, and the income earned is tax-sheltered. You can contribute into your own personal RRSP, or into a spousal RRSP, to maximize your current tax situation and the taxation of your retirement income.

RRIFs are generally similar to continuing an RRSP with the exception that you must take some taxable payments from them. You may choose any payment level annually as long as the total each year is at least equal to the mandatory minimum amount. In a RRIF, you may increase your payments above the minimum; there is no maximum payment level. RRIFs can continue for the lifetime of the holder or their spouse.

*Mutual funds and related financial planning services are offered through Credential Asset Management Inc. Mutual funds, other securities and securities related financial planning services are offered through Credential Securities, a division of Credential Qtrade Securities Inc.  Credential Securities is a registered mark owned by Aviso Wealth Inc.


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