Saving for retirement

How to keep your retirement savings on track (Video)

How do you plan and save for the future in an uncertain time? This webinar offers some expert tips on saving for retirement during the pandemic and beyond. 

Did your retirement savings take a hit due to COVID-19? Perhaps your investments temporarily dropped because of the pandemic. Or maybe you had to dip into your savings to cover certain expenses as a result of the virus. It’s a common scenario that’s happened to both retirees and people who are still saving for retirement.

Now, with the second wave potentially underway, you may be wondering how you can successfully manage your retirement savings going forward. Jennifer Murphy, a financial planning consultant (B.Comm, CFP, CLU) at Sun Life, notes that having a good financial strategy in place can help ease your concerns and prepare for setbacks along the way.

In this webinar, Murphy emphasizes that a solid strategy includes an understanding of:

  • all your sources of retirement income (e.g. government benefits, pensions and personal savings),
  • the risks associated with your retirement income (e.g. inflation and market drop),
  • how to cope with market volatility (the ups and downs of the stock market), and
  • how to use insurance to secure your future.

Murphy also answers common questions that may be on your mind right now, like:

  • How much can I receive in government benefits (e.g. Canada Pension Plan and Old Age Security)?
  • How much money will I need (after tax) in retirement?
  • What happens if I were to outlive my savings?
  • How do I keep saving if prices increase?
  • What do I do if the markets drop?
  • What kind of strategy can help me if I need income during retirement?
  • How can having life insurance help me when I retire?

Watch the video above to get some helpful answers and see what you can do to build or improve your financial strategy.

Get professional help with your finances

Need help managing your retirement savings? You may want to consider talking to an advisor.

It can be difficult to stay on track of your finances, especially if you’re facing a difficult situation or setback. Luckily, you don’t have to deal with it alone. You can work with an advisor, who can help you keep up with your savings.

An advisor can help address any financial concerns or questions you may have. They can also help you:

  • maximize your retirement savings,
  • review your current financial situation,
  • make well-informed financial decisions,
  • make a plan that meets your short- and long-term goals,
  • revise your plan as your needs change and
  • feel assured in times of uncertainty.

Most advisors now offer to meet with Clients virtually by video chat.


This article and webinar video is for information and illustrative purposes only. It's not intended to provide specific financial, tax, insurance, investment, legal or accounting advice. It does not constitute a specific offer to buy and/or sell securities. We've gathered information in this article and webinar from sources believed to be reliable, but no representation or warranty, express or implied, is made with respect to its timeliness or accuracy.

© Sun Life Assurance Company of Canada, 2020