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

MAKING THE MOST OF YOUR RETIREMENT

Why put off retirement planning

A

It’s more important to enjoy life than to save I’m not familiar with any retirement planning tools

B

I could sell my home if I needed to

C

I’ll have enough

D

There are too many factors beyond my control to make long-term plans

E

Strategies for a successful retirement

• Your retirement income
• The elements of your plan
• Managing your income
• Your tax breaks
• Your health
• Your path

Sources

• f retirement

income

Tax-efficient non-registered savings Other sources of income RRSP TFSA

+

CPP OAS

+

Private pension plans DC DB

OR

Impact of not having a pension

Tax-efficient non-registered savings Other sources of income RRSP TFSA

+

CPP OAS

+

The parts of your plan

• Max. pension at 65, in 2017

$1,134,17 / month

At 60 with reduction (-36%)

$725,87 / month

At 70 with increase (42%)

$1,610,52 / month

• Max. pension at 65, in 2017

$596,67 / month

Defined benefit Defined contribution VS

CPP OAS

PENSION

Managing your income

• RRSP-RRIF
• LIRA-LIF
• TFSA
• NON-REGISTERED

SAVINGS

A general rule with some exceptions!

Taxation

Income splitting

$6,800

IN TAX SAVINGS

$6,936 $k $100K $53.5 K $53.5K

PERFORMANCE SECURITY OF CAPITAL INCOME SECURITY TAXATION SIMPLICITY FLEXIBILITY

Retirement: How should you invest?

According to your priorities and your needs

Making sure your savings outlive you!

Life expectancy

Age 75 - 75% Age 82 - 51% Age 90 - 18% Age 90 34% Age 86 - 51% Age 75 - 84% Age Age Probability of survival Probability of survival Man aged 60 Woman aged 60

Inflation

2017

Legal matters and Insurance

Budgeting Savings / Investment Retirement Debt management Taxation Special projects

The parts of your plan

Estate planning

Your will

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

Estate growth

Increase the value

• f your estate

Pay taxes

Financial Plan