Dream of travelling? Retirement can be the time of your life – if you’ve planned ahead. Jamie Milton, partner of Uniglobe Carefree Travel of Saskatoon, meets many retirees making the most of these years.
“Travel is extremely popular among seniors. Those can be the years to see and do things you might otherwise not have had the time or money to experience earlier in life,” said Milton.
Two simple steps can get you that much closer to funding your retirement travel plans.
- Become a member of a pension plan, such as the Saskatchewan Pension Plan. It is open to Canadians between the ages of 18 and 71 with available room to make RRSP contributions. The SPP is a good choice for those two-thirds of Canadians who do not have a workplace pension plan such as those self-employed or working for small businesses.
- Contribute regularly as a member. Take advantage of time and compounding returns. For example, contributing $100 a month with annual investment earnings of eight per cent can grow to $150,030 in 30 years.
Find out how to become a member of the Saskatchewan Pension Plan and make your regular contributions by visiting our website.