Retirement Planning in Canada – Start Early, Savings Vehicles, and Building a Plan

This video covers the following learning objectives:

Explain the importance of starting savings early, including how compound interest builds wealth over time

• Emphasized the time value of money and exponential growth from compounding

• Demonstrated through a comparison example (Sarah vs. James)

Analyze Canada’s retirement savings vehicles (RRSPs, TFSAs, employer pension plans, OAS, CPP)

• Explained structure, benefits, and tax implications of:

  • RRSP (Registered Retirement Savings Plan)

  • TFSA (Tax-Free Savings Account)

  • Employer Pension Plans (Defined Benefit and Defined Contribution)

  • CPP (Canada Pension Plan)

  • OAS (Old Age Security)

• Included simple examples for each to show real-world applications

Apply account knowledge to a full retirement plan

• Tied together all savings vehicles into a comprehensive strategy using the character Amira

• Highlighted diversification, tax strategy, and long-term planning