Planning for Retirement

Have a retirement plan
For many business owners, their business is a large component in ensuring a comfortable retirement. And, without the benefit of a company pension plan, you will be relying on your own resources plus government plans to provide you with an income in retirement. Planning now for your retirement allows you to consider long-term strategies for both your business and yourself.

Benefits of a retirement plan include:

• Retirement savings outside the business help offset some of the business risks associated with economic downturns, competition or potential business losses.
• Allowing you to take advantage of personal income tax deferral by saving and investing within an RSP.
• Various income strategies are available to you as a business owner, including income splitting.
• Enables you to diversify investments among different investment vehicles and asset classes.
• Provides a source of retirement income that is independent of your business operations.

In addition to investments held within an RSP, there are a number of investment options you could consider upon the sale of the business that provide a stream of monthly income. For example, BMO Income Generator^™ offered by BMO Term Investments, or BMO Diversified Income Fund offered by BMO Mutual Funds are two options that provide a predictable stream of monthly income – depending on your needs and your risk tolerance.

• When is the right time to retire?
• Will your business fund your retirement?
• Do you have a succession plan?
• Could you attract a buyer to sell the business to upon retirement?
• How much of your net worth is tied up in the business?
• Have you consulted the appropriate professionals to discuss potential tax and estate issues in relation to you and your business?

We can help....
These are only some of the questions that need to be considered with respect to planning for your retirement. Learn more about RSPs, our range of investments and how they can assist you reach your goals.

We also suggest you talk to your Commercial Account Manager at your local BMO Bank of Montreal branch near you or call BMO Bank of Montreal Direct Banking for Business at 1 877 262-5907.

BMO Mutual Funds are offered by BMO Investments Inc., a financial services firm and separate legal entity from Bank of Montreal. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.