Today, I begin my career that I have studied so much for. I see that several of my colleagues are talking about their retirement plan and who are advising me to open one.

Should I open a savings account for my retirement.

Choice 1 : open a savings account for my retirement.

Choice 2 : Wait later to open a savings account for my retirement.

Open a savings account for my retirement.

Well, it' decided I open an RRSP account at the bank to plan for my retirement. I plan to put in a monthly amount that will be taken directly from my pay every month. I also invest in dung in the meantime which gives me more money for my savings' account. At least I know that when I retire I won't, have, any money worries are since everything is already planned, and I can go to retirement with no worries.

Choice 1 : Go to retirement with savings.

Wait later to open a savings account for my retirement.

I am not going to open an account for my retirement because I am going to have an allowance from the Government of Canada each month so why am I wasting my time opening a savings account. Either way, I know I'm going to have a good retirement, but I still got time if I want to open a saving account.

Choice 1 : Go to retirement with no savings.

Choice 2 : Decide change and open a retirement savings.

Go to retirement with savings.

Before I retired, I spoke to the Industry Superfund’s financial planner about how to maximize the money that I saved. My adviser recommended that I open an income stream account and start drawing down on my money gradually. This meant I could still access the government Age Pension while the balance of my saved money continued to grow during the early years of retirement before I gradually draw down on all of it. My money balance was $200,000 when I retired, and I converted it into an income stream account with my Industry super fund Over the past five years I withdrew on average around $10,900 each year to top up the Age Pension. Today, my money balance has grown to $250,056.

Write a choice here.

Go to retirement with no savings.

Now I am 50 years old, and I realize that for my retirement I will not have enough money even though I get an allowance by the Government of Canada. I must have more modest ambitions than my dreams of early retirement a month before winning the lottery jackpot of course. I have to make a budget to limit my expenses and set myself realistic financial goals and avoid making unnecessary expenses.

Write a choice here.

Decide change and open a retirement saving.

I'm 30 and after some small calculations I noticed that even with the government allowance, I wouldn't have enough money when I retire, so I decided, to open an RRSP at my bank and me but the third of my salary per month in the RRSP account that I opened.

Write a choice here.

Go to retirement.

Now 70, I've been enjoying retirement for the past five years. Due to being late for opening a saving account, my money balance at 65 was $50,000, and I knew I would need to rely on the government Age Pension to fund my retirement.

Write a choice here.