Why starting early matters to your retirement plan

Saving for retirement is an increasing priority to many Canadians who, as a whole, are living longer today than all other previous generations. A longer life often means more years in retirement and the need for a retirement portfolio that will live as long as you do.

Planning for retirement early in life can make a big difference in funding your golden years. By starting when you are young, small amounts invested over time may benefit from the virtue of compounding and lessen the burden of having to play catch-up to reach the retirement income you want later in life.

A longer investment time horizon also means you have the longevity to potentially ride out market cycles and take advantage of opportunities for enhanced income and growth potential. Investment in equities, bonds and alternatives are some strategies you may consider to help ensure your long life is a blessing – not a curse.

Reach your goals = begin saving early

Source: BlackRock. This is for illustrative purposes only and not indicative of any investment. This illustration assumes your ability to continue to make contributions on a monthly basis.

Compound interest is the eighth wonder of the world. He who understands it, earns it …He who doesn’t, pays it.
– Albert Einstein.