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February 2019

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Comment maximiser votre épargne-retraite

How to maximize your retirement savings


(NC) In today’s economy jobs have changed and many of us work outside the nine-to-five model as freelancers, gig workers, job jumpers and postponed professionals. But if you’re part of this flexible workforce, how can you plan and save for a healthy retirement? 

According to a recent TD survey, 55 per cent of working Canadians who are part of the “flexforce” say they are not able to save as much as they need to each year to meet their retirement goals.

As job statuses fluctuate, your retirement goals may naturally evolve too. To keep up with these changes, it’s important to have a plan, review it regularly and see it through in order to maximize your saving and investing potential.

Jennifer Diplock, associate vice president of personal savings and investing at TD Canada Trust, offers these quick tips to help navigate retirement planning:

Educate yourself. Spend time learning about retirement savings options and what your ideal retirement would look like. Once you’ve determined your goals, establish a plan to help you stay on track.

Contribute early. Remember to start planning early to maximize the benefits that time provides. For example, long-term investing gives you a longer period of potential investment growth and can help mitigate shorter-term fluctuations in the market.

Work and save your way. With challenges associated with flexforce employment – such as the unpredictability of an untraditional job and a potentially inconsistent cash flow – many people find making smaller weekly, bi-weekly or monthly contributions easier than making large lump-sum contributions. Setting up a pre-authorized purchase plan can help with finding the right timing and amount that works for you.

Plan regular check-ins with your financial advisor. Given the number of variables you may experience as a freelancer, it’s important to speak to a financial advisor on a regular basis. Receiving financial advice early and regularly will allow you to evolve your plan to help keep your financial goals in check.


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