BMO Retirement Tips of the Day: Understand What a Retirement Plan Is and Start Saving Early

(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 02/01/12 -- As the February 29th deadline approaches to make a contribution to a Registered Retirement Savings Plan (RRSP) and as part of its ongoing commitment to improving financial literacy, BMO Financial Group will be providing daily retirement tips during the month of February from BMO Retirement Institute Head Tina Di Vito's new book .

Tip Number One:

Understand what a retirement plan is

Having a retirement plan is more than making contributions to an RRSP or participating in a company pension plan. A retirement plan is a living, breathing document that can change from year to year, depending on your life circumstances. A complete plan consists of the savings phase - steps to get to your retirement - and the spending phase - steps to ensure your money will last you through your retirement. The following questions can help you begin to form your retirement plan:

Tip Number Two:

Don't let "feeling young" lead to procrastination

With 50 being the new 40 these days, many of us are feeling younger than our age. However, do not let this delay or slow down saving for retirement. It is never too early to start. In fact, the earlier one starts saving, the better. Time is the single biggest influence on how much savings one can accumulate because of the impact of compounding growth.

For more information on retirement: .

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Bereitgestellt von Benutzer: MARKETWIRE
Datum: 01.02.2012 - 13:00 Uhr
Sprache: Deutsch
News-ID 109859
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