Planning for retirement was something that I didn’t think much about when I started my career. I focused on paying off student debt and spent time concentrated on the day to day work. However, in the back of my mind was also the knowledge that my parents were retired, and retired early living a life I would love to experience in my retirement. Their lifestyle was a direct result of making sound financial decisions and planning early – allowing them the financial freedom to enjoy all that retirement has to offer. No matter what stage you are in your life, it’s never too late to start planning for retirement. Unsure about who to talk to? Talk to TD about becoming #RetireReady.
When I got married and had children I always thought that retirement was something my husband and I would plan together. While I was thankful I had a pension I was confident that investing in RRSPs and my boys RESPs was the way to go. When my husband and I separated and divorced my plans for retirement adjusted. Not only was I now the sole supporter of my family, I was also not receiving support for my boys now or in the future. I took the time to talk to friends and a financial advisor to adjust my savings, and plan for a future that would allow me to support my children on my own and retire when I wanted to. Was it going to be easy? Probably not, but it was absolutely going to be the best plan for my boys and I. While I’d love to say that my retirement plan was a straight line it has not been what I had planned or expected. What I learned is that retirement can look different for everyone –nobody’s life is a straight line. Head to TD for a TD goals-based assessment and begin your path toward becoming #RetireReady.
Each March my boys and I have the amazing opportunity to visit my parents in Florida. We get a beautiful vacation with the people we love most in the world and I get a glimpse into the world of retirement. Long sunny days, eating outside, escaping the snow and an active lifestyle. While I’m not sure I see myself as a snowbird for the winter months I love the idea of creating the memories my boys have with their grandparents.
How am I planning for retirement? I’m focusing on both saving for my own retirement and saving for my boys’ education. By focusing on two saving options I know that I will be able to retire when I want to without worrying about the costs of my boys’ education and leaving them with crippling student debt. I’ve set goals and I’m working to achieve them. How are you planning for retirement? Not sure? Have questions still? Head into TD for a goals-based assessment where they get to know the real you, not the numbers, so you can become #RetireReady today.
Disclosure: This post is part of the YummyMummyClub.ca and TD and the #RetireReady sponsored program. I received compensation as a thank you for my participation. This post reflects my personal opinion about the information provided by the sponsors.
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Since having kids, my husband and I have realized that we really needed to make sure we will be ok in the future. We had already started doing college funds for the kids. Now we are starting to plan our retirement. I think it is a smart thing to do. We need to speak to a financial adviser to make sure we make good decisions.
Sounds like you are on the right track! Love that you have your kids planning started. Definitely time to think about retirement!
Sounds like a step in the right directions for planning for the future. Can not save enough these days.
So true! You never know when you will need it!
Kerrie @ Family Food and Travel recently posted..Planning for Retirement
Planning for retirement is something I fear many young people don’t think about. After all… it’s years away… but not really. It’s actually the best thing you can do for yourself and your family.
I know I have to get planning for retirement, I really need to get things moving. I am getting older and I know I have to do it, I need to do this for me and my family.
I really need to start planning for my retirement days. I am sssooo bad, and I haven’t really done much of anything towards those days. =/
This is a great reminder! My husband has started doing this just recently :)
This is a great reminder for people to start their year right by planning for retirement. It’s good to know that you are focused on your kid’s education and your own retirement. It’s important to set goals because these will keep you driven and help you achieve financial independence.
I have a lot of things in mind how I’ll approach retirement. Settling my debts is on top of my list because these give me headaches. I also plan to keep on working and considering postponing retirement. My husband and I have decided to retire separately but we haven’t really decided yet who’s gonna retire first. I hope we can settle it soon. I think retiring separately can help us because this will give us more Social Security benefits. By working longer, we’ll have a shorter period of drawing on our retirement assets.
Lastly, I plan to secure my husband and I from the inevitable. Both of us agree that we don’t want to become a burden to our children later on when we are old and weak. Getting insurance for healthcare and long term care is on our list too.
Samantha Stein recently posted..Senior Care: Balancing Marriage and Caring for a Parent