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Retirement Seminar Draft Annas

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A must read for saving for retirement

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Retirement Seminar Draft Annas

  1. 1. Retirement Income Planning Seminar Anna Conner Senior Advisor October 2008 Wealth Life Health Holistic Approach … Covering all the Bases
  2. 2. Who Why What Success …. <ul><li>Agenda: </li></ul><ul><li>Who will be educating us today </li></ul><ul><ul><ul><li>Anna Conner, Senior Advisor </li></ul></ul></ul><ul><ul><ul><li>Steve Chipman, MBA, CFP, Taxation, Estate Planning </li></ul></ul></ul><ul><ul><ul><li>Casey Walsh, Vice President, Marketing and Sales CI Investments </li></ul></ul></ul><ul><li>Why should we be doing this now </li></ul><ul><ul><ul><li>Very few with income plans </li></ul></ul></ul><ul><ul><ul><li>Retirement planning with the right #s </li></ul></ul></ul><ul><ul><ul><li>Life events </li></ul></ul></ul><ul><ul><ul><li>Understand your own situation </li></ul></ul></ul><ul><li>What will we be learning about </li></ul><ul><li>Success create peace of mind </li></ul><ul><li>Q & A </li></ul>
  3. 3. Anna Conner, BTI, EPC <ul><li>Background in finance and adult education </li></ul><ul><li>Passion – Making a difference in people’s lives </li></ul><ul><li>Came to Sunlife in 2001 </li></ul>Why Educate?
  4. 4. Who Why What Success …. <ul><li>Agenda: </li></ul><ul><li>Who will be educating us today </li></ul><ul><li>Why should we be doing this now </li></ul><ul><li>What will we be learning about </li></ul><ul><ul><ul><li>Life Cycles </li></ul></ul></ul><ul><ul><ul><li>How much will you need </li></ul></ul></ul><ul><ul><ul><li>Sources of Income </li></ul></ul></ul><ul><ul><ul><li>How do I draw it down to my advantage </li></ul></ul></ul><ul><ul><ul><li>Minimizing tax on your investment income </li></ul></ul></ul><ul><ul><ul><li>Income Splitting </li></ul></ul></ul><ul><ul><ul><li>Potential pitfalls in retirement </li></ul></ul></ul><ul><ul><ul><li>The 3R’s (risks) </li></ul></ul></ul><ul><ul><ul><li>How to guarantee retirement income </li></ul></ul></ul><ul><ul><ul><li>Q & A </li></ul></ul></ul><ul><li>Create Success and peace of mind </li></ul>
  5. 5. As we move closer <ul><li>30 something’s concerns </li></ul><ul><li>Too busy to think about retirement planning </li></ul><ul><li>Buying a house and dealing with a mortgage </li></ul><ul><li>Paying off student loans </li></ul><ul><li>Family obligations – sports, braces, summer camp, etc. </li></ul><ul><li>50 something’s concerns </li></ul><ul><li>Beginning to think about retirement </li></ul><ul><li>How will it look - travel, volunteer, work part time </li></ul><ul><li>don’t know if they have saved enough. </li></ul><ul><li>Don’t know how to put together a retirement savings plan </li></ul><ul><li>Life changes – kid’s leaving the nest, health concerns, new goals and directions. </li></ul><ul><li>60 something’s concerns </li></ul><ul><li>Serious about retirement, not sure if they’ve saved enough. </li></ul><ul><li>Not sure where to start to figure it all out </li></ul><ul><li>Wondering how to take the income </li></ul><ul><li>Worried about out living the income </li></ul><ul><li>40 something’s concerns </li></ul><ul><li>Still too busy to think too seriously about retirement planning </li></ul><ul><li>Many financial goals – kid’s education, new furnace and roof, vacation, etc. </li></ul><ul><li>Retirement is sort of “out there” somewhere </li></ul>
  6. 6. Covering fixed and lifestyle costs Lifestyle Expenses Basic Expenses <ul><li>Food, shelter </li></ul><ul><li>Clothing </li></ul><ul><li>Taxes </li></ul><ul><li>Medical </li></ul><ul><li>Hobbies </li></ul><ul><li>Entertainment </li></ul><ul><li>Clubs </li></ul><ul><li>Travel </li></ul>The products used for income generation must fit the individuals specific situation, and be part of the overall holistic financial success solution.
  7. 7. Retirement - What will yours look like? <ul><li>What change means for people </li></ul><ul><li>No more earned pay cheque. </li></ul><ul><li>Many income sources </li></ul><ul><li>Must withdraw from assets </li></ul><ul><li>Watch for tax requirements </li></ul><ul><li>Live within a budget </li></ul><ul><li>What can help … </li></ul><ul><li>Create peace of mind with an income plan. </li></ul><ul><li>Create a total cash flow stream for retirement. </li></ul><ul><li>Set a tax sensitive plan to maximize assets. </li></ul><ul><li>Set out a plan to cover fixed & lifestyle expenses. </li></ul>
  8. 8. Other considerations … <ul><li>Income requirements (core, lifestyle) </li></ul><ul><li>Pension details, income splitting </li></ul><ul><li>LIRA, RRIF legislation </li></ul><ul><li>CPP trade-offs </li></ul><ul><li>OAS / age credit claw backs </li></ul><ul><li>Assets withdrawal hierarchy </li></ul>CPP – OAS toll free # 1 800 277 9914
  9. 9. Effecting change … doubt / value. <ul><ul><li>The story … 3 son’s and 17 camels and a will. </li></ul></ul><ul><ul><li>Oldest son is to receive ½, middle son is to receive 1/3rd and youngest son is to receive 1/9th. </li></ul></ul><ul><ul><li>Executor and boys need help! Ask the wise old person </li></ul></ul><ul><ul><li>Wise person gives the 3 sons one of his camels. Now they have a total of 18 </li></ul></ul><ul><ul><li>Oldest gets 9 camels, middle son gets 6 camels, youngest gets 2 camels… and . . . . </li></ul></ul><ul><ul><li>the WISE PERSON takes back the camel! </li></ul></ul>This is how getting good advice can make a difference
  10. 10. SLF Steven Chipman <ul><li>MBA, CLU, CFP </li></ul><ul><li>35 years of expertise </li></ul><ul><li>Agenda: </li></ul><ul><li>Who will be educating us today </li></ul><ul><li>Why should we be doing this now </li></ul><ul><li>What will we be learning about </li></ul><ul><ul><ul><li>How much will you need </li></ul></ul></ul><ul><ul><ul><li>Sources of Income </li></ul></ul></ul><ul><ul><ul><li>How do I draw it down to my advantage </li></ul></ul></ul><ul><ul><ul><li>Minimizing tax on your investment income </li></ul></ul></ul><ul><ul><ul><li>Income Splitting </li></ul></ul></ul>
  11. 11. Casey Walsh, CI Investments <ul><li>Product Specialist for CI Investments </li></ul>New Retirement Income Programs <ul><li>Agenda: </li></ul><ul><li>Who will be educating us today </li></ul><ul><li>Why should we be doing this now </li></ul><ul><li>What will we be learning about </li></ul><ul><ul><ul><li>Potential pitfalls in retirement </li></ul></ul></ul><ul><ul><ul><li>The 3R’s (risks) </li></ul></ul></ul><ul><ul><ul><li>How to guarantee retirement income </li></ul></ul></ul><ul><ul><ul><li>Minimizing tax on your investment income </li></ul></ul></ul>
  12. 12. Thank You - Q & A time <ul><li>Anna Conner </li></ul><ul><li>Senior Advisor </li></ul>Casey Walsh VP Sales & Marketing CI Investments Steve Chipman Director, Estate Planning Sun Life Financial

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