Retirement Planning Do you have a clear picture of where you want to be when you retire? Is it playing golf every day in a warm, sunny climate? Travelling and enjoying the wonders of the world? Or perhaps you're one of the new generation of retirees who are realizing that it doesn't have to be about surrendering to a slower, more leisurely lifestyle. It is simply a new phase of life. A time when discovery, creativity and exploration are a matter of choice, not an exception to the rule. Learn more about the BMO Retirement Trends Study. No matter what your retirement dream looks like, it takes careful planning to turn that dream into a reality. Using our sophisticated planning software, your Investment Advisor can create a retirement analysis that is customized to reflect your current circumstances, anticipated savings rate and investment objectives. This program takes into account all of your current and future sources of income, including government programs, company pension plans, RRSPs and RRIFs, employment and investment income, then factors in inflation and current tax rates. Taking a look at your expected expenses as well as all of your future sources of retirement income allows you to see if there will be a shortfall between the lifestyle you want and your financial ability to maintain it. Your Investment Advisor will then work with you to develop a strategy to help eliminate any shortfalls so you can achieve your retirement goals. RRSP and RRIF As part of your retirement strategy, your Investment Advisor will assess how you can benefit from registered savings plans such as RRSPs and RRIFs, and whether you are taking maximum advantage of the benefits they offer. Whether you're looking for details on the advantages of a Self-Directed RRSP or RRIF, information on deduction limits and contributions (including RRSP loans), or other information, you'll find the resources you need in the RRSP Centre.