Late Bloomers: Starting Comprehensive Retirement Planning in Your 50s

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• Sharp Asset Management Inc.

• Retirement Planning for Canadians in Their 50s

• 416-722-9009

• contact_at_sharpasset.com

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• Benefits of Retirement Planning in Your 50s

• Peak earning potential Many Canadians reach
  their peak earning potential in their 50s,
  allowing for increased savings.
• Fewer child-related expenses Your financial
  obligations may decrease, freeing up more money
  for retirement savings.
• Clearer vision of retirement goals As you
  approach retirement, you may have a clearer idea
  of your desired lifestyle and the expenses
  associated with it.
• Potential for catch-up contributions The
  Canadian government offers catch-up contribution
  limits for RRSPs, allowing you to save more in
  your 50s.

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• Action Plan for Retirement Planning in Your 50s

• Evaluate Your Financial Health List your assets,
  debts, income, and expenses. This will provide a
  clear picture of your current financial
  situation.
• Maximize Your Savings For retirement savings,
  maximize contributions to both your RRSP
  (consider catch-up options for Canadians in their
  50s) and TFSA to benefit from tax-free growth.
• Invest Wisely Seek a personalized investment
  strategy. Develop an investment strategy that
  aligns with your risk tolerance and retirement
  goals.

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• Action Plan for Retirement Planning in Your 50s

• Plan for Healthcare Costs Factor in potential
  healthcare expenses in your retirement planning,
  including long-term care, medications.
• Consider Your Retirement Lifestyle Determine
  your retirement savings needs, consider the
  travel, housing (downsizing or staying put?), and
  hobby dreams that fuel your vision of a
  fulfilling retirement.
• Review Debt Repayment Strategy Tackle
  high-interest debt first to free up cash for
  retirement savings and investments.

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• Canadian Public Pension Plans

• CPP Retirement pension The Canada Pension Plan
  (CPP) is a monthly, taxable benefit that replaces
  part of your income when you retire. If you
  qualify, you'll receive the CPP retirement
  pension for the rest of your life.
• Old Age Security (OAS) This is a universal,
  non-contributory program. All Canadian residents
  65 and over are eligible for a monthly benefit,
  regardless of employment or contribution.
• Guaranteed Income Supplement (GIS) This is a
  supplement program offered to low-income OAS
  recipients to ensure a minimum level of income.

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• Contact us

• 21 Greenwin Village Road, Toronto, Ontario M2R 2R9

• P.O BOX 74539 Humbertown Centre,
• 270 The Kingsway Toronto, ON M9A 5E2

• 416-722-9009

• contact_at_sharpasset.com

• www.sharpasset.com

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• Thank you