Member Tips

When you’re planning for retirement, a question you must address is how much income you will need in retirement: your “target retirement income.”

You already know that funding your retirement means saving some of your earnings during your working years. But how much of your earnings should you be saving?

If you’re thinking about saving for retirement, you’re probably familiar with these two tax-advantaged savings accounts: the Tax-Free Savings Account (TFSA) and the Registered Retirement Savings Plan (RRSP). Common Wealth includes both account types.

The best retirement savings plans empower participants to benefit from long-term returns — and deliberate plan design is one crucial way to help deliver this outcome.