PACE Credit Union
What Do You Know about Retirement Planning?

Take this 10 question quiz to test your knowledge. Find out if you're in good shape for retirement. You may be surprised at what you don't know!

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Let's get started... 
 
1. What is the most effective retirement savings strategy?
a. Reduce discretionary expenses (e.g. credit cards)
b. Pay yourself first
c. Wait for an inheritance
2. What is the primary goal of Retirement Planning?
a. Figure out a hobby when I retire
b. Ensure sufficient savings for a secure retirement
c. Reduce my taxes during retirement
3. Generally speaking, what % of current income will you need during retirement?
a. 100%
b. 50%
c. 70%
4. What is often the primary source of retirement income?
a. Company Pension plan
b. Registered Retirement Savings Plan (RRSP)
c. Canada Pension Plan
5. What are the financial benefits of opening an RRSP?
a. Contributions are immediately tax deductible
b. All investment and interest earnings compound tax-free until withdrawal
c. Both a and b
 

RRSP Earnings grow Tax-Free

RRSP's earn compounded interest that's tax free until withdrawal. The earlier you start your plan, the higher the return over time. If you don't have a retirement plan, consider starting one now.

Contact your local branch today or pace.info@pacecu.com for more information. We'll help you develop a realistic plan to meet your goals.

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