When it comes to creating a robust retirement plan, a lot of us tend to put it off. One reason may be because it’s difficult to imagine what life will be like in five, 10, 20 years from now. Another possible reason is that we may become overwhelmed by the amount of information available about retirement planning. So we tend to avoid the exercise all together. One way to overcome this procrastination is by facing the fear head-on by making a couple of goals, and then building from there. Consider these two examples to start:
- Visualize your life in retirement: Knowing where you’re going makes getting there so much easier. So, if you can visualize how you’ll live your life in retirement, you’ll have a better idea on how to achieve your savings goals. To help you out, Canada Life/GRSaccess has some great calculators and planning tools that can show you how much you’ll need to put aside.
- Make saving easy: If you’re working on a project right now, your contributions will be coming off your pay cheque. Consider also making extra contributions through your bank account by setting up Canada Life Group RRSP as a bill payee. To do this, go to the bill payee set up and search for Canada Life Group RRSP. Select it and enter your group RRSP account number. You’ll find this in your statements and/or on Mycanadalifeatwork.com. Once it’s set up, you can set recurring payments to be made to your RRSP. This is a great way of making it easy to achieve your retirement goals. Click here to learn more.