Plan For Retirement

​Planning for a Secure Retirement

With modern medical advances and increased standards of living, people can plan on spending one quarter of their lives in retirement. 

​Everybody has heard it before: It's never too early to start planning and saving for your retirement.  It's true.  The effect of compound interest is significant.  The best way to ensure that you're making the right decisions with your investments is to talk to someone who can give you sound advice about RRSP's and Term Deposits.  At Summerland Credit Union, our people can help you organize your finances so your retirement will be secure.

Saving and Investing for Retirement

You've saved up for your golden years, but now that your retired, what do you do with your money?  Learn about RRIF's which are basically RRSP's in reverse.  You put money into RRSP's while you were working to save on taxes every year.  When you eventually switch your money over to a RRIF, you'll be drawing money out and paying taxes on that money.

Summerland & District Credit Union and Summerland Financial Services can help you learn more about RRIF's and other annuities.  Doing your homework and consulting the right advisors will make it easier to select any option that may make your retirement more comfortable.

Start Your Retirement Savings Plan Here.

Insurance During Retirement

Being Protected

All your life you were a wage earner and you made sure that if anything happened to you, your family would be able to continue living the same lifestyle that they were used to. But once you retire, it's still important to think about protecting your assets. Summerland Financial Services can help you ascertain whether or not you have the right type and amount of insurance to let you and your family rest easy.

Life Insurance

A good life insurance policy will cover many of the expenses and concerns that will arise when you die. It will protect your assets for your heirs and continue any income for the people who depend on it. It will also cover funeral costs, legal and executor fees, as well as pay any taxes you owe at death.

Health Insurance

Just as with life insurance, you'll benefit greatly from obtaining a health insurance policy early. This type of coverage can be a great help if you become sick and need special medical care. A good policy can help cover the costs of prescription medications or any medical supplies you need. It will also cover extended hospital stays and any special home care that you may require.

Know Your Retirement Needs

A solid retirement strategy is an integral and essential part of an overall financial plan. There are many additional factors in consider including pension maximization and estate planning, which is why it's important to get professional advice from your trusted financial advisor.