June is Seniors Month, and all month long the OSC Investor Office is providing resources and hosting events for older investors. This issue of Investor News​ is focused on issues and information for people as they grow older.

Growing Older

Our investor website GetSmarterAboutMoney.ca has many tools and resources for older investors. Here are a few things to think about: 

• To get the most out of your retirement years, it’s a good idea to have an up-to-date financial plan as well as follow a budget and use savings plans to maximize financial and tax benefits.
• Transitioning from working life to retirement takes careful financial planning and decision-making. Knowing how much you'll need to save for retirement will help you better prepare for the future. Here are 7 ways to prepare financially for retirement.
• You'll receive key information when you buy and sell an investment, as well as regular account statements. Use this information to stay on top of your investments and track your progress toward meeting your goals. Review your investment account information.
• Two key decisions you have to make with a RRIF are how much money to take out and when. Know the rules for taking money out of your RRIF.

Retirement Budget Worksheet

What will your retirement look like? Planning for retirement starts with knowing what you earn and what you spend. Use our Retirement Budget Worksheet to see the difference between your income and expenses before and after you retire.

Visit GetSmarterAboutMoney.ca for more popular tools and calculators to help you with your finances.

OSC Seniors Strategy

The OSC recently published its Seniors Strategy (OSC Staff Notice 11-779) as part of our ongoing efforts to deliver strong investor protection and responsive regulation.

Our vision is a stronger and more secure financial future for all Ontario seniors. The Seniors Strategy contains a comprehensive action plan of new policy, operational, research, educational and outreach initiatives the OSC is pursuing in relation to older individuals and our plans to continue building on existing initiatives. 

Read about the OSC Seniors Strategy in The Globe and Mail, Investment Executive, Advisor.ca, BNN Bloomberg, and The Insurance and Investment Journal. 

The OSC is seeking new members for its Seniors Expert Advisory Committee (SEAC).

The SEAC advises staff on securities-related policy and operational developments that impact older investors and provides input on the OSC’s related education and outreach activities. The current SEAC’s term will soon be expiring, and we thank the outgoing members for their valuable contributions towards the development of the OSC’s Seniors Strategy.​ Learn more

Investing As We Age Research Study

The data tells us that people are living longer than ever, and older Ontarians make up a growing portion of the population. At the same time, the financial lives of individuals aged 65 and older are becoming more complex. Read the Seniors Strategy to learn more about some of the research and data that informed its development.

Additional Investor Office research, including our recent Investing As We Age study, can be found on our research page.

RRSPs and TFSAs are two popular ways people choose to save for retirement. Use our calculators to help you plan.

RRSP Savings Calculator
Use this calculator to estimate how much your RRSP could be worth at retirement and how much income it could provide each year.

TFSA Calculator
We also have a calculator for you to estimate the value of the investments in your TFSA when you’re ready to withdraw them, and how much in taxes you could save.

Protecting Your Financial Information

Keeping your personal financial information safe is one way to avoid becoming a victim of financial fraud or identity theft. As an investor, use this checklist to help keep your financial information safe.

Teletownhalls are a way for the Investor Office to connect with thousands of Ontarians at a time. Teletownhalls work much like a call-in radio show where OSC staff provide information, answer questions and conduct live polls over the course of one hour.

Our upcoming teletownhall in June is being held as part of our Seniors Month activities and will focus on recognizing and preventing different types of investment fraud. Join us on June 14 from 6:30-7:30 pm to learn more about spotting some common scams and ask OSC experts your investing questions. Register here

Investor News

Almost 9,600 people have signed up for Investor News to stay informed about the latest investor initiatives, educational resources, topical issues, key dates and investor warnings and alerts. If you haven't already done so, subscribe today or let your family, friends and colleagues know that they should subscribe too.