Retirement Planning Basics
Prepare for a comfortable retirement with comprehensive knowledge of Canadian retirement planning tools and strategies. This course demystifies RRSPs, TFSAs, CPP, OAS, and other retirement vehicles available to Canadians, helping you create a personalized retirement plan that aligns with your lifestyle goals.
Whether you're just starting your career or approaching retirement, this course provides the essential knowledge you need to make informed decisions about your financial future and ensure you can maintain your desired standard of living in retirement.
What You'll Learn:
- Understanding RRSPs and maximizing contribution strategies
- Leveraging TFSAs for retirement savings
- How CPP and OAS work and when to start benefits
- Employer pension plans and group RRSPs
- Calculating how much you need to save for retirement
- Retirement funds strategies and withdrawal planning
- Healthcare and long-term care planning in retirement
- Estate planning basics for Canadians
Course Details
Retirement planning can seem complex and overwhelming, but this course breaks it down into understandable, actionable steps. You'll gain a thorough understanding of all the retirement savings vehicles available to Canadians and learn how to use them effectively to build the retirement you envision.
The course begins with the fundamentals of Registered Retirement Savings Plans (RRSPs), explaining contribution limits, tax benefits, spousal RRSPs, and strategic withdrawal planning. You'll learn how to maximize the tax advantages of RRSPs and understand the rules around required minimum withdrawals after age 71.
You'll also explore Tax-Free Savings Accounts (TFSAs) and understand how they complement RRSPs in a comprehensive retirement strategy. The course explains contribution room, permitted investments, and strategies for using TFSAs throughout different life stages, including in retirement.
Understanding government benefits is crucial for retirement planning. This course provides detailed information about Canada Pension Plan (CPP) and Old Age Security (OAS), including how benefits are calculated, when to start taking them, and strategies for maximizing your government retirement funds. You'll also learn about the Government Payment Supplement (GIS) for lower-revenue retirees.
Beyond just saving, you'll learn how to estimate your retirement expenses, calculate how much you need to save, and create a realistic timeline for achieving your retirement goals. The course covers different retirement scenarios and helps you plan for various contingencies, including healthcare costs, inflation, and longevity considerations.
You'll also gain important knowledge about retirement funds strategies, including how to structure withdrawals from different accounts to minimize taxes, understanding required minimum withdrawals, and planning for a sustainable money stream throughout retirement. The course touches on important related topics like estate planning basics and considerations for leaving a legacy to your heirs.
Course Format:
- Self-paced online learning with lifetime access
- Comprehensive video lessons with visual aids
- Downloadable retirement planning worksheets
- Retirement savings calculators and projection tools
- Case studies illustrating various retirement scenarios
- Checklist for retirement readiness
- Certificate of completion