Building the right savings and investment skills and habits can help you enjoy the here and now while planning for your future.
Building the foundations
Retirement doesn’t happen in 1 big moment. The plan you build and the daily habits you form can help you reach all your other goals on the way to retirement.
Whether retirement is a hazy concept in the future or just around the corner, having a plan can help you enjoy the small moments and feel prepared for the big decisions.
Setting financial goals
Paying yourself first
Budgeting by paycheque
Reaching your saving goals takes time and perseverance. We'll be there with you every step of the way to start shaping the process and strategies that will help you work towards what you're saving for.
How to maximize your monthly savings
What are the benefits of saving money early?
How you can save more money each month
See how your saving decisions now could impact retirement
Investing is a smart way to build your wealth. We can help you find your way around the world of investments and make sure your choices are well informed.
Investment strategies
Investing styles and techniques
How to choose the right investments
Your retirement income options
It’s safe to say we spend a lot more time figuring out how we’re going to save for retirement, than how we’re going to withdraw those savings. Starting to think about your options will help you understand how much money you'll need and how much more you need to save.
The federal government offers benefits you may be able to claim when you stop working, but they shouldn’t be your only retirement plan.
The savings plan available through your employer offers convenience, flexibility and lower fees than you’d typically pay at a bank or other retail institution.
It’s not as simple as just taking the money out of your investments and savings to spend. There are important strategies to be aware of.
There are so many smaller goals and steps that get you to retirement – harnessing the power of your workplace savings plan is just 1 tool that can make a big difference.
There is music playing in the background
Narrator: Joining your group retirement and savings plan is an easy way to save.
Description: Jean relaxes in an armchair. Her piggy bank runs in from behind the chair and leans on her ankles.
Narrator: Your group retirement savings plan (RSP)
Description: Cut to Jean’s hand holding a coin. The coin is dropped into the piggy bank.
Narrator: can help you pay less income tax today because your contributions are tax deferred.
Description: The piggy runs out of frame and a paper with a percentage sign falls behind. A portion of the paper is cut with a scissors.
Narrator: That means you won’t pay tax on contributions
Description: The paper falls back into the piggy bank, followed by more coins. A clock moves into frame and time passes.
Narrator: until you take them out later in life when your income and tax rate will likely be much lower.
Description: Cut to line graph showing age from 20 to 90. Income rises until retirement at 65, then decreases afterwards.
Narrator: You’ll also usually pay lower investment management fees (services needed to manage the fund) than an individual plan.
Description: Cut to down arrow beside price tag with percentage sign. They separate to show one person.
Narrator: because they’re shared among a large group, instead of paying them on your own.
Description: One person is compared to a group with a bar graph. The individual has higher fees.
Narrator: Both of these benefits – tax deferral and lower fees,
Description: Cut to paper with percentage beside a price tag with percentage.
Narrator: help you make the most of your group retirement and savings plan.
Description: Return to Jean in armchair with piggy bank. She pets the bank as its tail wags.
Narrator: Get started today at GRS Access.
Description: Text “Sign into GRS Access at canadalife.com” appears with Canada Life logo and legal line: Canada Life and design are trademarks of The Canada Life Assurance Company.
There is music playing in the background
Narrator: Joining your group retirement and savings plan is an easy way to save.
Description: Jean relaxes in an armchair. Her piggy bank runs in from behind the chair and leans on her ankles.
Narrator: Your group retirement savings plan (RSP)
Description: Cut to Jean’s hand holding a coin. The coin is dropped into the piggy bank.
Narrator: can help you pay less income tax today because your contributions are tax deferred.
Description: The piggy runs out of frame and a paper with a percentage sign falls behind. A portion of the paper is cut with a scissors.
Narrator: That means you won’t pay tax on contributions
Description: The paper falls back into the piggy bank, followed by more coins. A clock moves into frame and time passes.
Narrator: until you take them out later in life when your income and tax rate will likely be much lower.
Description: Cut to line graph showing age from 20 to 90. Income rises until retirement at 65, then decreases afterwards.
Narrator: You’ll also usually pay lower investment management fees (services needed to manage the fund) than an individual plan.
Description: Cut to down arrow beside price tag with percentage sign. They separate to show one person.
Narrator: because they’re shared among a large group, instead of paying them on your own.
Description: One person is compared to a group with a bar graph. The individual has higher fees.
Narrator: Both of these benefits – tax deferral and lower fees,
Description: Cut to paper with percentage beside a price tag with percentage.
Narrator: help you make the most of your group retirement and savings plan.
Description: Return to Jean in armchair with piggy bank. She pets the bank as its tail wags.
Narrator: Get started today at GRS Access.
Description: Text “Sign into GRS Access at canadalife.com” appears with Canada Life logo and legal line: Canada Life and design are trademarks of The Canada Life Assurance Company.
Use your online account to check your balance, make additional contributions, manage your personal information and more.