Ken Zawalykut, Cobourg financial planner, can help you create the retirement income plan that will support your retirement goals. You need to ask yourself some serious questions, and answer them honestly to create an effective plan. 1. What do you want your retirement to look like? 2. What is your net worth? 3. What are your liabilities? 4. What will retirement cost? 5. Do you want to leave a legacy? 6. What is your health situation? 7. How must you change your will for retirement? Once you have well thought out answers to these questions, you have taken a big step towards insuring you will be able to achieve your dream retirement. Ken has been a trusted financial planner in the Cobourg and Port Hope area for years. He has the experience and knowledge to help you achieve your financial retirement goals. Ken Zawalykut - Financial Advisor 24 Covert Street #201 Cobourg ON K9A 2L6 (905) 372-0800 http://www.youtube.com/watch?v=LZZCTX4S_34

2. Ken Zawalykut | www.kenzawalykut.ca
Email: ken.zawalykut@ipcsecurities.com
Phone: 905.372.0800
Retirement
Income Plan
Seven Questions
You Need to Ask

3. Seven Questions
• What do you want your retirement to look like?
• What is your net worth?
• What are your liabilities?
• What will retirement cost?
• Do you want to leave a legacy?
• What is your health situation?
• How must you change your will for retirement?

4. Retirement Myths
• I will “slow down” in retirement.
• My house is my retirement.
• The government will look after me.
• I have a pension that should be more than enough.
• My kids will look after me.
• I’ll make it up later (after paying down the
mortgage, kid’s education).

5. Retirement Realities
Many Canadians:
• face some of the highest tax rates in the world
• may require nursing care at some point
• may be penalized for having assets
• will find income from government sources too
low

6. Retirement Realities
Many Canadians:
• may need 60% to 70% of current earnings in
retirement
• do not have a company pension plan
• will need their retirement income to keep pace
with inflation to pay for the rising cost of living
and longer retirements

7. What Do You Want Your
Retirement to Look Like?
1. Do you plan to travel?
2. Will you go south each
winter?

8. 1. Are you going to pursue specific interests:
A. Golf
B. Education
C. Hobbies
D. Volunteer work
2. Will you be downsizing?
What Do You Want Your
Retirement to Look Like?

9. What Do You Want Your
Retirement to Look Like?
Paint a picture of life
in retirement so you
can plan for it.

10. What is Your Net Worth?
1. Your home
2. Your cottage
3. Personal RRSP’s
4. Bank Accounts
5. Non-registered investments
6. Small business
These are your fixed assets. What do you intend to do
with them? Will you be selling them before retirement?

11. What Are Your Liabilities?
1. Mortgage on home
2. Mortgage on cottage
3. Personal debt
• Credit card
• Automobile loans
• Line of credit
4. On-going expenses for dependant child or parent care

12. What Will Retirement Cost?
• It is important to estimate what your living expenses will be when you retire,
including both essentials (must-haves) and discretionary (nice-to-haves)
Essential Expenses Discretionary Expenses
Estimated Annual
Expenses Estimated Annual Expenses
Rent/Mortgage $ Weekly Cash $
Property Taxes $ Dining Out $
Utilities $ Travel $
Groceries $ Gifts to Family $
Health (prescriptions
physio, etc.) $ Memberships (golf, health,
country club) $
Phone/TV Services $ Vacation Home $
Transportation – One car or
two? Home Renovations
$
TOTAL $ TOTAL $

13. Essential Expenses Discretionary Expenses
Estimated Annual Expenses Estimated Annual
Expenses
Home Insurance $ Charitable Contributions $
Vehicle Insurance $ Costs involved in volunteer work $
RV insurance $ Support for Grandchildren’s Schooling $
Life insurance $ Expenses for pets $
Medical Insurance $ $
Parental Support
$ $
One car or two? $ $
TOTAL $ TOTAL $
What Will Retirement Cost?
Some additional expenses often forgotten

14. Do You Want to Leave a Legacy?
Many people have a special connection with a charity or organization and
want to leave a special legacy gift.
Some examples might be:
• A scholarship fund
• A gift to promote a building or renovation for a non-profit organization like
a hospital
• A memorial gift to help fund a specific annual activity like tree planting in
a local park
• A gift to support a specific activity like funding for digitization equipment
for a local museum or historical society
• A gift to a library to use for purchase of a special collection or to extend
services

15. What are your health needs?
Do you or your spouse or dependant child have special health needs that
must be financially supported on an ongoing basis?
Will you require:
• Prescription medicine that is not fully paid for?
• Support worker assistance?
• Medical appliances like orthotics, braces, or prosthetics?
• Special dietary needs?
• Regular specialized medical treatment not fully funded by health care?
• Travel or out-of-country medical insurance?
• Renovations to new principle residence if you are moving like ramps or
handholds?

16. How Must You Change Your Will?
What happens if one spouse predeceases the other?
• Look at both scenarios
If you are liquidating assets your will needs to be altered
• Selling your home and downsizing?
• Selling the family cottage?
• If leaving your cottage to your children, will they all be able to use it or do
you need to make an financial adjustment to be fair?
Do you need to protect your assets if a spouse remarries?

17. Plan for Retirement
Every individual’s situation may be unique, but each has similarities to many
others.
Planning professionals not only receive training in a broad range of
circumstances, but also get to personally assist clients across a wide
spectrum of situations.
You can not be expected to think of everything yourself. That is why it
makes financial and tax sense to sit down and go over your retirement plans
with a trained and trusted advisor.
You are looking forward to your retirement. Make sure you understand what
you need to get the retirement you want!

18. Trademarks owned by Investment Planning Counsel Inc. and licensed to its subsidiary
corporations. Investment Planning Counsel, is a fully integrated Wealth Management Company.
Mortgage broker services provided by IPC Save Inc. (Ontario Lic. #10227). Mutual Funds
available through IPC Investment Corporation and IPC Securities Corporation. Securities
available through IPC Securities Corporation, a member of the Canadian Investor Protection
Fund. Insurance products available through IPC Estate Services Inc.
For a Comprehensive Look at Your Retirement…
….Call or email today
Ken Zawalykut, Financial Advisor
IPC Securities Corporation
24 Covert Street, Suit 201
Cobourg, ON K9A 2L6
Phone: 905.372.0800
Email: ken.zawalykut@ipcsecurities.com
Website: www.kenzawalykut.ca