Building the right savings and investment skills and habits can help you enjoy the here and now while planning for your future.
Building the foundations
Retirement doesn’t happen in 1 big moment. The plan you build and the daily habits you form can help you reach all your other goals on the way to retirement.
Whether retirement is a hazy concept in the future or just around the corner, having a plan can help you enjoy the small moments and feel prepared for the big decisions.
Setting financial goals
Paying yourself first
Budgeting by paycheque
Reaching your saving goals takes time and perseverance. We'll be there with you every step of the way to start shaping the process and strategies that will help you work towards what you're saving for.
How to maximize your monthly savings
What are the benefits of saving money early?
How you can save more money each month
See how your saving decisions now could impact retirement
Investing is a smart way to build your wealth. We can help you find your way around the world of investments and make sure your choices are well informed.
Investment strategies
Investing styles and techniques
How to choose the right investments
Your retirement income options
It’s safe to say we spend a lot more time figuring out how we’re going to save for retirement, than how we’re going to withdraw those savings. Starting to think about your options will help you understand how much money you'll need and how much more you need to save.
The federal government offers benefits you may be able to claim when you stop working, but they shouldn’t be your only retirement plan.
The savings plan available through your employer offers convenience, flexibility and lower fees than you’d typically pay at a bank or other retail institution.
It’s not as simple as just taking the money out of your investments and savings to spend. There are important strategies to be aware of.
There are so many smaller goals and steps that get you to retirement – harnessing the power of your workplace savings plan is just 1 tool that can make a big difference.
Description: This animated video uses a character, illustrations and graphs to show how to save with a group savings plan.
Narrator: Joining your group savings plan is an easy way to save for your future
Description: Brittany relaxes in an armchair, looking at a coin. She flips the coin in the air.
Narrator: and it can help you pay less income tax today.
Description: The coin lands beside a paper with a percentage sign.
Narrator: That’s because you won’t pay tax on your contributions until you take them out later in life
Description: A portion of the paper is cut with scissors.
Narrator: when your income and tax rate will likely be lower.
Description: Cut to line graph showing age from 20 to 90. Income rises until retirement at 65, then decreases.
Narrator: By contributing through automatic payroll deduction, you can also benefit from dollar-cost averaging.
Description: A monthly calendar draws into the frame with a day to contribute marked with a dollar sign.
Narrator: That’s when you invest the same amount of money on a regular basis, helping to reduce the impact of market ups and downs.
Description: Cut to a line graph showing savings growing steadily with a monthly contribution of $100. A wavy line appears behind, illustrating the changes in the stock market.
Narrator: You can also make lump-sum contributions through online banking or regular pre-authorized contributions if your plan allows.
Description: Cut to a view of Brittany’s laptop, displaying the “Contributions” page of the My Canada Life at Work website.
Narrator: With a group savings plan, you’ll typically pay lower fees for services needed to manage the fund
Description: Cut to illustrations of a down arrow beside a price tag with a percentage sign.
Narrator: than you would through a bank or other financial institution.
Description: They separate to show an illustration of a bank and commercial building with a line dividing them.
Narrator: The reason is those fees are shared among a large group, instead of paying them on your own.
Description: The line rotates to create a bar graph. An illustration of one person is compared to a group. The individual has higher fees.
Narrator: To learn how you make the most of your plan and save for the future that’s right for you,
Description: Return to Brittany in her armchair, tossing the coin in the air as she smiles.
Narrator: visit mycanadalifeatwork.com
Description: Text “Visit mycanadalifeatwork.com today.” appears with the Canada Life logo and legal line: “Canada Life and design and My Canada Life at Work are trademarks of The Canada Life Assurance Company. mycanadalifeatwork.com 1-888-252-1847.”
Description: This animated video uses a character, illustrations and graphs to show how to save with a group savings plan.
Narrator: Joining your group savings plan is an easy way to save for your future
Description: Brittany relaxes in an armchair, looking at a coin. She flips the coin in the air.
Narrator: and it can help you pay less income tax today.
Description: The coin lands beside a paper with a percentage sign.
Narrator: That’s because you won’t pay tax on your contributions until you take them out later in life
Description: A portion of the paper is cut with scissors.
Narrator: when your income and tax rate will likely be lower.
Description: Cut to line graph showing age from 20 to 90. Income rises until retirement at 65, then decreases.
Narrator: By contributing through automatic payroll deduction, you can also benefit from dollar-cost averaging.
Description: A monthly calendar draws into the frame with a day to contribute marked with a dollar sign.
Narrator: That’s when you invest the same amount of money on a regular basis, helping to reduce the impact of market ups and downs.
Description: Cut to a line graph showing savings growing steadily with a monthly contribution of $100. A wavy line appears behind, illustrating the changes in the stock market.
Narrator: You can also make lump-sum contributions through online banking or regular pre-authorized contributions if your plan allows.
Description: Cut to a view of Brittany’s laptop, displaying the “Contributions” page of the My Canada Life at Work website.
Narrator: With a group savings plan, you’ll typically pay lower fees for services needed to manage the fund
Description: Cut to illustrations of a down arrow beside a price tag with a percentage sign.
Narrator: than you would through a bank or other financial institution.
Description: They separate to show an illustration of a bank and commercial building with a line dividing them.
Narrator: The reason is those fees are shared among a large group, instead of paying them on your own.
Description: The line rotates to create a bar graph. An illustration of one person is compared to a group. The individual has higher fees.
Narrator: To learn how you make the most of your plan and save for the future that’s right for you,
Description: Return to Brittany in her armchair, tossing the coin in the air as she smiles.
Narrator: visit mycanadalifeatwork.com
Description: Text “Visit mycanadalifeatwork.com today.” appears with the Canada Life logo and legal line: “Canada Life and design and My Canada Life at Work are trademarks of The Canada Life Assurance Company. mycanadalifeatwork.com 1-888-252-1847.”
Use your online account to check your balance, make additional contributions, manage your personal information and more.