OSPC: Picture Yourself at Retirement

Mid Career (30 - 50 years)

  • Hire a professional
  • Understand legal documents
  • Consider your best interests
  • Keep financial records
  • Be informed
  • Be prepared
  • Research your options
  • Increase your fiscal knowledge

Financial planning involves determining where you want to be in the future and sets out a plan to get there including financial needs. Here's a series of questions to help you.

Consider these eight questions as you're developing your plan.

  1. How much income do I need?
  2. Do I have enough money to retire?
  3. How long should I keep working?
  4. Do I need to sell property or other assets?
  5. How much insurance coverage do I need?
  6. How much money will I receive from government programs and other retirement savings?
  7. How much will it cost me to live once I retire?
  8. How long will my savings last?

Starting your financial plan

There are many free online guides to help get you started on your own financial plan. Or you may wish to consult a certified financial planner. If you choose to consult a professional, you should be aware that financial planners have different ways of getting paid. Some earn commissions by selling products such as insurance or investment plans, while others are paid on an hourly basis by clients. Some certified financial planners, or elder planning counsellors, specialize in working with people over the age of 50.

Additional information

Your bank, credit union or financial planner is a good starting place. They have resources and staff to help guide you in developing a financial plan.


Canadian Securities Administrators - Investor Tools
Explore a variety of tools and information to learn more about your rights and responsibilities as an investor, how to protect your money and how to avoid frauds and scams.

Financial Consumer Agency of Canada
You will find information about financial products and services, as well as interactive tools and read our publications to evaluate your options and keep more money in your pocket.

Prepare for Retirement
Retirement can be a time of personal fulfilment. Create a picture of what you want your retirement to be. Retirement can be: a time for travel, a time for new experiences, a time to volunteer in your community, a time to work in different ways, a time for contemplation and relaxation.... you choose.

Services for Seniors Guide
"Services for Seniors" is a guide to more than 120 programs and services provided by the Government of Canada. It covers everything from income support to housing, health and safety issues.

Financial Planning Standards Council
Develops, promotes and enforces professional standards for financial planners through certification and by raising awareness of the importance of financial planning to Canadians.

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