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What is Retirement Planning?
Retirement Planning FAQs
If you get to 65 and you're not ready to retire, you don't have to. It's a personal choice. You can delay your retirement. The good news is that your Social Security benefits will continue to increase until you get to 70.
For most people, their retirement income will come from these four sources:
- Personal savings and investments
- Employer-sponsored pension plans
- Canada Pension Plan (CPP) or Quebec Pension Plan (QPP)
- Old Age Security (OAS)
For effective retirement planning, you’ll need to know how much money you may get from each source. You need to have a plan in place long before you retire. If you do, you can have a good idea of exactly how much money you'll have when you retire.