How to set up your retirement income sources

To-do list includes government benefits, employer pension, RRSP conversion and non-registered savings

Matthew Elder 24 September, 2015 | 5:00PM

Note: This article is part of Morningstar's September 2015 The road to retirement special report.

Most of us have been -- or should have been -- saving for retirement for as long as we can remember. We set money aside regularly through our paycheques, with amounts deducted for an employer pension plan or group registered retirement savings plans (RRSPs), and Canada or Quebec Pension Plan contributions. We voluntarily make periodic contributions to RRSPs and tax-free savings accounts. And those of us of greater financial means also are able to build savings in investment accounts outside those plans.

Hopefully, the result of all this will be a fair chunk of change when you reach your 60s or whenever you decide it's time to retire -- or at least cut back on your workload to allow you to enjoy more free time.

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Matthew Elder

Matthew Elder