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Personal Investments

Determining Your Needs

Are you saving up for a specific goal? Before choosing the best investment vehicle to help you reach your goals, you must first carefully identify what those goals are. What’s on your wish list?


Buy a cottage, a second home or a recreational vehicle

Have you always dreamed of relaxing in your very own oasis? With a good financial plan, your dream of a seaside cottage, a second home or a recreational vehicle can become a reality. There are products that can help you save for such major purchases.

Suggested products:
TFSA |  Non-registered Investments



Prepare your retirement

Retirement is one of life’s major stages. It’s therefore important to be properly informed in order to make the right decisions when accumulating and withdrawing assets.

Diversifying your investments is essential when saving for retirement. Diversifying income sources is just as important once you’re retired. Planning for your needs will help you determine the best way to structure your sources of retirement income. There are countless personal investment options. With the help of Assumption Life’s experts, you can prepare your retirement with complete confidence.

Click here to find out more about Assumption Life’s investment products.

Suggested products:
RRSP |  TFSA |  Non-registered Investments |  RRSP loan



Manage your retirement income

After having spent years putting money aside and developing an investment strategy to grow your personal savings, it’s time to plan the best way to draw from those savings.

This crucial step involves structuring your income to meet your retirement goals. A number of factors must be considered, and every situation is unique. But the main objective for retirement remains the same: having enough income to meet your needs.

You should take a close look at your expenses and break them down into the following categories:

  • Essential expenses (housing, food, clothing, health care, etc.)
  • Discretionary expenses (entertainment, restaurants, travel, recreation, gifts, etc.)
  • Unexpected expenses
    • Income sources can be categorized as follows:

      • Fixed income with a lifetime guarantee (Canada Pension Plan or Régime de rentes du Québec, Old Age Security pension, employer’s pension)
      • Flexible income, not guaranteed (personal savings – RRSP/RRIF, TFSA, non-registered investments, etc.)

      Of course, essential expenses come first. These are relatively predictable and recurring throughout your lifetime. This is why it is best to assign guaranteed lifetime income to these expenses. If the sources of guaranteed income from government or employer plans do not cover essential expenses, you can draw from your personal savings and create a guaranteed lifetime income by purchasing a life annuity.

      A life annuity is purchased with a lump-sum amount, and in return, the annuitant collects a guaranteed lifetime fixed income. For couples, life annuities can be structured to be payable until the last person’s death. Those looking for maximum retirement income security will certainly want to consider a lifetime annuity as a source of retirement income. This strategy can also be effective for people who don’t have an employer-pension income. In such cases, you can use part of your personal savings to buy a lifetime annuity and receive a fixed lifetime income, similar to a pension.

      In spite of the benefits of income security, it is important to note that once a lifetime annuity is in place, it’s not flexible. As is the case with a government or employer pension, you cannot change the amount paid to you by a lifetime annuity. It is therefore recommended to maintain a flexible source of retirement income for any unanticipated expenses and, depending on your retirement plan, for discretionary expenses. This is what the structure of your retirement income and expenses could look like:

      Suggested products:
      RRIF |  LIF |  TFSA |  Immediate Annuity |  Non-registered Investments



      Save to buy a house

      Your first house is without question the most important and exciting purchase you’ll ever make! Before you can turn the key in the front door, you need to save enough for the down payment. Assumption Life offers products specially designed to save for that very goal.

      Suggested products:
      Non-registered Investments |  RRSP |  TFSA



      Save for a vacation

      Life is hectic and you deserve a great vacation to recharge your batteries. Go ahead on that trip without worrying about the cost by setting money aside beforehand. That way you can fully enjoy your well-deserved break! Here are some options from Assumption Life that can make that wonderful trip you’ve been dreaming about possible.

      Suggested products:
      TFSA |  Non-registered Investments



      Save for a specific goal

      You want to undertake a major project or achieve a specific goal or dream? No matter the plan, we will help you determine the amount you need and how to attain your goals. Some of our products could make it easier for you.

      Suggested products:
      TFSA |  Non-registered Investments



      Save for educational purposes

      Whether it’s for your return to school or your children’s education, serious planning is essential. Set aside the funds you need with the help of Assumption Life products.

      Suggested products:
      TFSA |  Non-registered Investments