According to Benefits Canada 71%1 of us are finding it challenging to save for retirement with increased spending on groceries, rent or mortgages and other essentials.

With 32% of respondents saying they have no retirement plan and many people planning to continue working part time or occasionally, despite wanting to retire, there's no better time to gain control of your retirement income.

Just as everyone takes a different path to retirement, what you do when you retire is also unique to your own circumstances, needs and wishes. It’s helpful to think about how you envision the future, since your chosen retirement lifestyle will significantly impact your finances. Obviously, travelling the world in luxury requires more money than a simpler lifestyle.

What counts the most is matching your financial assets with your retirement lifestyle to ensure you can accomplish your objectives. Keep in mind that retirement is often measured in decades, not in years. As people live longer, it becomes more critical to plan well for retirement.