The retirement planning strategies that make sense when you’re 45 may not always be the right fit when you’re 55, 65 or over. If you’re already retired, you may be looking for advice and strategies to help increase your retirement income, ensure your savings last and provide a legacy for your family.
At RBC Wealth Management, we can create a holistic plan to anticipate and meet the needs of each stage of your life—including retirement. Our customized solutions and services may be ideal if you:
- Need in-depth financial advice tailored to your retirement needs and objectives
- Earn a high annual income and are looking for tax-efficient ways to save beyond a traditional Registered Retirement Savings Plan (RRSP) and Registered Retirement Income Fund (RRIF)
- Can benefit from enhanced retirement plans, including Individual Pension Plans (IPPs) for incorporated professionals and business owners
Building and boosting your retirement income
As you're enjoying retirement, we can help you balance your financial needs for preservation and security with your desire for higher income.
To help you maximize your retirement income, we offer strategies for enhancing your income stream. These may include:
- Choosing investments with the potential for higher income, such as corporate bonds and dividend-paying stocks that protect the core of your savings
- Investing in income trusts that distribute most of the cash earned from underlying assets directly to investors
- Choosing the RRSP maturity option that's right for you, including an RRIF to maximize the tax-deferred growth it provides