Start Retirement Savings Early

When you choose to invest at a young age, you are making one of the wisest, and smartest decisions of your life.
Not only will you be providing yourself with the means to build your future, but you will be creating a life of security and forming the kind of financial habits that lead to wealth.

Check out this comparison chart and see the difference in the total amount contributed vs total amount saved!

By contributing $50 biweekly beginning at age 20 you could have a total of over $164,000 at age 65.

In this scenario, the total amount contributed from age 20 - 65 would be $58,500; but thanks to compounding interest the total amount accumulated by age 65 is $164,292.64!*

When contributing the same amount beginning at age 30 the total saved is significantly less. The total amount contibuted from age 30 - 65 would be $45,500. 
With compounding interest the total accumulated at age 65 is $99,425.07.*

This is still great to have saved up but it certainly shows the benefits of starting at an earlier age and letting that interest work for you!

Not to mention the tax benefits an RRSP can bring!

Speak to an advisor at your local branch and get started today!

Want to do some calculating of your own? We have a retirement planning calculator!

*The calculations in this above graphic are based on a 4% average rate of return. Actual rates of return may vary, perhaps to a large degree depending on investment product. Mutual funds are offered through Credential Asset Management Inc. Online brokerage services are offered through Qtrade Investor. Mutual funds and other securities are offered through Credential Securities. Qtrade Investor and Credential Securities are divisions of Credential Qtrade Securities Inc. Credential Securities is a registered mark owned by Aviso Wealth Inc.
 

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