Whether you are decades away from retirement or if it is just around the corner, being aware of the planning opportunities will take the fear and uncertainty out of this major life event.
Blue sky your retirement plans to get clarity
As you approach retirement, preparation and planning become extremely important to help ensure that this period of your life will be as comfortable as possible. If you are like most, you have spent considerable time contemplating the type of retirement you wish for yourself.
- Is extensive travel your dream?
- Do you have an expensive hobby or two you want to take up?
- Will you stop working totally or continue to do some work on your own terms using your life experience and skills to supplement your income.
- Will you remain in your house or will you downsize to smaller, easier to care for premises? Or perhaps housing that will be more compatible with the challenges of aging?
There are three trends that will guide the Canadian economy in 2017. Those are:
- the strength, or lack thereof, of oil prices;
- domestic housing developments; and
- whether the U.S. economy continues to improve.
So says Russell Investments’ 2017 Global Market Outlook, which calls for modest growth in the coming year for Canada.
“Moderate improvement in the price of oil and reasonable growth of the U.S. economy are weighed down by debt-laden households,” says Shailesh Kshatriya, director of Canadian strategies at Russell Investments Canada Limited. “We expect domestic equities to be positive, but without the exuberance of 2016. However, domestic bonds likely will be challenged as lacklustre fundamentals may be partially offset by rising yields in the U.S. […] On balance, we see 2017 economic growth in the range of 1.6% to 2%.”