Retirement may seem far away, but having a plan can help to ensure that you are financially secure when the time comes.

Here are some important points for you to consider:

• The first step is to think about how much you will need once you retire. The longer you live, the more money you will need. It is important to think about expenses that may increase in retirement such as travel, medical or housing costs.
• Starting to save early will allow you to reach your goals within a shorter time span.
• Be sure to pay off any debts as soon as possible so that you can focus on meeting your savings goals.
• Review your investment portfolio regularly –once per year or when your financial circumstances change. Talk to your financial advisor about your financial needs in retirement and the level of savings and types of investments that will help you get there, keeping in mind your comfort with risk and your ability to handle risk.
• Take advantage of registered savings plans, such as Registered Retirement Savings Plans (RRSPs) or Tax-Free Savings Accounts (TFSAs). The tax advantages of these plans will help you reach your goals sooner.

When planning for your retirement, be sure to consult with your financial advisor. Your advisor can help you plan to achieve your goals so you have peace of mind and are well-prepared for your later years.