OF YOUR RETIREMENT Why put off retirement planning Its more - PowerPoint PPT Presentation

MAKING THE MOST OF YOUR RETIREMENT

Why put off retirement planning It’s more important A to enjoy life than to save I’m not familiar with any B retirement planning tools I could sell my home C if I needed to D I’ll have enough There are too many factors beyond E my control to make long-term plans

Strategies for a  Your retirement income successful  The elements of your plan retirement  Managing your income  Your tax breaks  Your health  Your path

Sources of retirement income Other sources of income Tax-efficient non-registered savings RRSP TFSA + Private pension plans DC DB OR CPP OAS +

Impact of not having a pension Other sources of income Tax-efficient non-registered savings RRSP TFSA + CPP OAS +

The parts of your plan CPP $1,134,17 / Max. pension at 65, in 2017 month $725,87 / At 60 with reduction (-36%) month $1,610,52 / At 70 with increase (42%) month OAS $596,67 / Max. pension at 65, in 2017 month Defined benefit PENSION VS Defined contribution

Managing your income  RRSP-RRIF  LIRA-LIF  TFSA  NON-REGISTERED SAVINGS A general rule with some exceptions!

Taxation

Income splitting $100K $53.5K $53.5 K $6,800 $6,936 $k IN TAX SAVINGS

Retirement: How should you PERFORMANCE invest? SECURITY OF CAPITAL According to INCOME SECURITY your priorities and your needs TAXATION SIMPLICITY FLEXIBILITY

Making sure your savings outlive you! Life expectancy Man aged 60 Woman aged 60 Age 75 - 84% Probability of survival Probability of survival Age 75 - 75% Age 86 - 51% Age 82 - 51% Age 90 34% Age 90 - 18% Age Age

Inflation 2017

The parts of your plan Special projects Budgeting Legal matters and Taxation Insurance Debt management Retirement Savings / Investment

Estate planning

Your will Protect your loved ones Divide your assets according to your wishes Limit fees and taxes

Estate growth Increase the value of your estate Pay taxes

Financial Plan