Are You Really on Track for Retirement?
Let’s be honest. Most people have no idea if they are actually on track for retirement. They put money into an RRSP here, a TFSA there, maybe a pension at work. But deep down, they don’t know if it will be enough.
That uncertainty creates stress. It keeps you up at night. It makes you second-guess every financial decision.
And the truth is, hoping for the best is not a retirement plan.
That’s why we wrote this: How Much Should You Save for Retirement?
In it, we cut through the noise and show you what really matters: the benchmarks to know if you’re on track, how to use RRSPs and TFSAs the right way, why time is your greatest ally, and how estate planning ensures your money takes care of your family long after you’re gone.
The Truth About Retirement Benchmarks
Here is what most financial planners will not tell you: there is no magic number that works for everyone. But there are benchmarks that can show you whether you are ahead of the curve or falling behind.
- By age 30: have about one year of income saved
- By age 40: aim for three times your income
- By age 50: target six times
- By retirement: plan for eight to ten times your annual income
Where do you fall on that path? Some clients feel proud when they measure themselves. Others feel a jolt of panic. The truth is, no matter where you are today, you can still take control. The worst mistake is doing nothing.
RRSP vs TFSA: Which Is Right for You?
This is one of the biggest points of confusion we see. Should you put your money into an RRSP or a TFSA? The wrong choice can cost you tens of thousands of dollars over time.
- RRSPs cut your taxes now and grow for later. They work especially well for higher earners.
- TFSAs let your money grow tax free and come out tax free. They are incredibly flexible and powerful for long term planning.
The secret is not choosing one over the other. It is knowing how to use both together. That is where wealth management becomes more than numbers. It becomes a strategy that matches your exact life and your exact goals.
Time is Your Most Powerful Ally
You already know that money grows over time. But most people underestimate just how powerful that growth can be.
If you are 25 and put away $500 a month, you could stop saving at 40 and still retire with more than someone who started at 40 and kept saving all the way to 65. The difference is not discipline. The difference is time.
And every year you wait, you are giving up the most valuable resource you will ever have.
What Happens After You Retire?
Too many people think planning ends once they hit retirement. The truth is, what you do with your money in retirement matters just as much as how you save it.
This is where estate planning becomes crucial. Without a clear plan, your loved ones could be left sorting through confusion, taxes, and delays. With the right wills and strategies in place, you can make sure your family is cared for and your legacy is protected.
It is not just about leaving money. It is about leaving peace of mind.
Why Work With a Financial Planner Who Actually Listens
You could spend the next ten years piecing together information from articles and calculators. Or you could sit down with a certified financial planner who already knows the mistakes to avoid and the shortcuts that really matter.
At Lilley Financial Group, we treat your future as if it were our own. That means we look at everything: RRSP vs TFSA, tax efficiency, estate planning, wealth management, even your fears and hopes. We build a plan that not only works on paper but feels right in your life.
Because when you stop guessing and start planning with clarity, the anxiety fades. In its place you get confidence. And confidence is what allows you to enjoy your life right now, knowing the future is secure.
Take the First Step Today
Do not wait for the perfect moment. Do not wait until you feel “ready.” Every day you hesitate is another day you lose.
Book a consultation with Lilley Financial Group today. Sit down with a financial planner who will listen, who will map out your retirement strategy, and who will give you the confidence that you are finally on the right path.
Your retirement dreams are too important to leave to chance. Let’s build them together.
