Financial Resources
Generating a steady stream of income is a major concern for those approaching retirement and is the single most common reason for delaying retirement.
This is particularly critical if you're considering early retirement - your savings will have to last that much longer and pension income taken early may result in reduced benefits.
Ask yourself:
- what regular sources of income will you receive from government and your employer?
- when are you eligible to receive these benefits?
- what is the anticipated value of your RRSP holdings at retirement?
- what other resources can you draw on? business or rental income? a second career? other investments? the equity in your home?
- what sources of income does your spouse have access to? when is he or she eligible to receive them?
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