1) Government pension plans like the Canada Pension Plan (CPP) and Quebec Pension Plan (QPP) provide retirement benefits that individuals are entitled to if they have lived and contributed in Canada. Benefits can begin between ages 60-70, with reductions for early receipt and increases for delayed receipt.
2) Registered Retirement Savings Plans (RRSPs) allow individuals to shelter retirement savings from taxes. At retirement, RRSPs must be converted to a Registered Retirement Income Fund (RRIF) or other income-generating options like annuities or cash.
3) Retirement income options involve balancing tax implications, longevity risks, and income needs over a potentially long retirement. Professional
The document discusses various insurance products offered by PPS Insurance for graduate professionals. It summarizes different types of coverage including life insurance (PPS Professional Life Provider), health insurance (PPS Professional Health Provider), sickness and disability coverage (PPS Sickness and Permanent Incapacity Benefit). Additional benefits like accidental death coverage and hospital cash benefits are also described. Key features highlighted are flexible coverage options, tax benefits on claims, and members sharing in company profits through a surplus rebate account.
This document summarizes the tax treatment of qualified long-term care insurance (LTCi) premiums and benefits for different types of taxpayers in 3 sentences or less:
Individual taxpayers who itemize deductions can deduct eligible LTCi premiums, subject to age-based limits. Employer-provided LTCi premiums are excluded from employee income and are deductible by employers. Reimbursement benefits are generally not taxed, while per diem benefits exceeding daily limits may be partially taxed.
An Enhanced Annuity pays a higher retirement income if you have a medical condition that reduces your life expectancy, as the insurance company expects to pay out for a shorter period. Research shows over two-thirds of retirees could benefit from an Enhanced Annuity, with smokers receiving up to 13% more income and the seriously ill receiving significantly higher incomes. Consulting an advisor can help determine if an Enhanced Annuity makes sense for an individual based on their health and maximize their retirement income.
Northwestern Mutual's permanent life insurance policies offer financial security for policyholders' beneficiaries. The company takes a unique long-term investment approach, allocating assets across various classes like bonds, stocks, and real estate to generate higher returns with less risk than alternatives. This balanced portfolio has allowed Northwestern Mutual to achieve above-average returns of 8.24% annually from 1990-2009 while experiencing lower volatility than stock-only investments.
Aviva index universal life insurance crediting interest to your cash valueConnie Dello Buono
Aviva index universal life insurance crediting interest to your cash value..connie dello buono CA Life Lic 0G60621 408-854-1883 motherhealth@gmail.com Greater Bay area
Basics of insurance and investment terms seminar ongoing...
Bueller Family Wealth Goal Achiever - InKnowVision Advanced Estate PlanningInKnowVision
Advanced Planning For the Ultra High Net Worth.The recordings for this program can be found at http://tinyurl.com/6yojnrt.
Learn more at www.inknowvision.com
The Family Wealth Goal Achiever™ is a plan design book (like a blueprint) that explains in easy to understand text and graphics the planning ideas being recommended by the planning team. It solves for high net worth tax planning, advanced estate planning, business transition planning, asset protection planning.
Carter Family Wealth Goal Achiever - InKnowVision Advanced Estate PlanningInKnowVision
Jerry and Susan Carter are both 63. They own and operate a very profitable manufacturing business in a small town. Jerry and Susan spend about $650,000 a year, giving generously to family ($200,000/yr.) and their favorite charitable causes ($150,000/yr.). Although the business provides significant taxable income of over $5M a year, Jerry and Susan have been re-investing excess cash back into the business to keep it thriving through the latest recession. With assets totaling over $60M, a growing business and an income tax bill surpassing $2M/yr., their estate tax and income tax exposure is quickly increasing.
The primary planning goals are to:
Provide for the financial security of the surviving spouse.
Maintain Carter Manufacturing as a viable company in their hometown after they exit the business.Maintain their customary lifestyle and gifting. This should take approx. $650,000 annually after taxes.
Eliminate or reduce estate taxes.
Maintain adequate gifting to their children and grandchildren. Their main priority is providing funds for their grandchildren’s educations.
Maximize the inheritance they leave to their children and grandchildren.
Establish a family foundation for lifetime and future family charitable giving.
Learn more at www.inknowvision.com
This document discusses the benefits of Prudential's LTC3SM Guaranteed Purchase Option (GPO) for long-term care insurance. It notes that purchasing a policy with GPO at ages 40 and 50 provides better benefits and lower premiums compared to purchasing at age 62. It provides an example showing how premiums and benefits would increase over time for a policy purchased at age 40 with GPO compared to purchasing at age 61. The document aims to help financial professionals explain to clients how GPO can protect their retirement plans by making long-term care insurance more affordable and comprehensive when purchased earlier.
The document discusses various insurance products offered by PPS Insurance for graduate professionals. It summarizes different types of coverage including life insurance (PPS Professional Life Provider), health insurance (PPS Professional Health Provider), sickness and disability coverage (PPS Sickness and Permanent Incapacity Benefit). Additional benefits like accidental death coverage and hospital cash benefits are also described. Key features highlighted are flexible coverage options, tax benefits on claims, and members sharing in company profits through a surplus rebate account.
This document summarizes the tax treatment of qualified long-term care insurance (LTCi) premiums and benefits for different types of taxpayers in 3 sentences or less:
Individual taxpayers who itemize deductions can deduct eligible LTCi premiums, subject to age-based limits. Employer-provided LTCi premiums are excluded from employee income and are deductible by employers. Reimbursement benefits are generally not taxed, while per diem benefits exceeding daily limits may be partially taxed.
An Enhanced Annuity pays a higher retirement income if you have a medical condition that reduces your life expectancy, as the insurance company expects to pay out for a shorter period. Research shows over two-thirds of retirees could benefit from an Enhanced Annuity, with smokers receiving up to 13% more income and the seriously ill receiving significantly higher incomes. Consulting an advisor can help determine if an Enhanced Annuity makes sense for an individual based on their health and maximize their retirement income.
Northwestern Mutual's permanent life insurance policies offer financial security for policyholders' beneficiaries. The company takes a unique long-term investment approach, allocating assets across various classes like bonds, stocks, and real estate to generate higher returns with less risk than alternatives. This balanced portfolio has allowed Northwestern Mutual to achieve above-average returns of 8.24% annually from 1990-2009 while experiencing lower volatility than stock-only investments.
Aviva index universal life insurance crediting interest to your cash valueConnie Dello Buono
Aviva index universal life insurance crediting interest to your cash value..connie dello buono CA Life Lic 0G60621 408-854-1883 motherhealth@gmail.com Greater Bay area
Basics of insurance and investment terms seminar ongoing...
Bueller Family Wealth Goal Achiever - InKnowVision Advanced Estate PlanningInKnowVision
Advanced Planning For the Ultra High Net Worth.The recordings for this program can be found at http://tinyurl.com/6yojnrt.
Learn more at www.inknowvision.com
The Family Wealth Goal Achiever™ is a plan design book (like a blueprint) that explains in easy to understand text and graphics the planning ideas being recommended by the planning team. It solves for high net worth tax planning, advanced estate planning, business transition planning, asset protection planning.
Carter Family Wealth Goal Achiever - InKnowVision Advanced Estate PlanningInKnowVision
Jerry and Susan Carter are both 63. They own and operate a very profitable manufacturing business in a small town. Jerry and Susan spend about $650,000 a year, giving generously to family ($200,000/yr.) and their favorite charitable causes ($150,000/yr.). Although the business provides significant taxable income of over $5M a year, Jerry and Susan have been re-investing excess cash back into the business to keep it thriving through the latest recession. With assets totaling over $60M, a growing business and an income tax bill surpassing $2M/yr., their estate tax and income tax exposure is quickly increasing.
The primary planning goals are to:
Provide for the financial security of the surviving spouse.
Maintain Carter Manufacturing as a viable company in their hometown after they exit the business.Maintain their customary lifestyle and gifting. This should take approx. $650,000 annually after taxes.
Eliminate or reduce estate taxes.
Maintain adequate gifting to their children and grandchildren. Their main priority is providing funds for their grandchildren’s educations.
Maximize the inheritance they leave to their children and grandchildren.
Establish a family foundation for lifetime and future family charitable giving.
Learn more at www.inknowvision.com
This document discusses the benefits of Prudential's LTC3SM Guaranteed Purchase Option (GPO) for long-term care insurance. It notes that purchasing a policy with GPO at ages 40 and 50 provides better benefits and lower premiums compared to purchasing at age 62. It provides an example showing how premiums and benefits would increase over time for a policy purchased at age 40 with GPO compared to purchasing at age 61. The document aims to help financial professionals explain to clients how GPO can protect their retirement plans by making long-term care insurance more affordable and comprehensive when purchased earlier.
The document summarizes key concepts in image formation, including how light interacts with objects and lenses to form images, and how different imaging systems like the human eye and digital cameras work. It discusses factors that affect image quality such as point spread functions and noise. Methods for analyzing the effects of noise propagation and algorithms on image quality are presented, such as error propagation techniques and Monte Carlo simulations.
The document discusses embracing mobile learning in perioperative nursing education through the development of an app called InstruMentor. It describes the process of developing the app, which included identifying the need, gaining support, surveying students, accessing resources and experts, collaborating, testing prototypes, finalizing, publishing, promoting, and providing ongoing support. The app aims to enhance students' learning of surgical instruments through mobile technology. Barriers and debates around the best format (web vs native app) are also addressed.
Biografi singkat Michael Buble, penyanyi jazz Kanada yang bermimpi menjadi penyanyi sejak kecil. Meskipun sempat ingin menjadi pemain hoki, ia akhirnya memulai karier musiknya dengan album independen sebelum ditemukan David Foster dan merilis album studio pertamanya pada 2003 yang membuatnya meraih kesuksesan besar dan berbagai penghargaan.
The document is a poem about grieving the loss of a mother. It expresses how time cannot lessen the love for the mother or the pain of her being gone. It reminisces fondly on laughing with her, talking together, and being comforted by her singing. It acknowledges that the pain of loss will be pushed deep down over time, rather than lessening, and declares that the future will be lived in her memory without ever letting go of her.
The document discusses the importance of conducting proper investigations in the workplace. It outlines that investigations should be led by someone who is senior but impartial. The investigation must focus only on the incident being investigated and adhere to company procedures and employment law. Evidence from multiple sources like statements, documents, recordings, and emails should be collected. A thorough investigation report should be produced and used to determine appropriate disciplinary action or return to work. The document also promotes an employer support package that provides employment law expertise and guidance to help companies properly handle investigations and employment matters.
Este documento describe las herramientas y servicios ofrecidos por Contesis Latinoamérica para apoyar la estrategia ERP de las empresas. Incluye herramientas operativas para administración contable, de negocios y tecnología móvil, así como herramientas tácticas y estratégicas como Calypso y Datawarehouse. También detalla los componentes de seguridad del sistema y los beneficios a corto y mediano plazo de implementar estas soluciones.
The Tea Party movement began in 2009 as a protest against taxes and large government. It started when two individuals organized the first Tea Party protest, sending tea bags to Congress to voice opposition to new taxes. Since then, Tea Party protests have occurred across the country, with people rallying against perceived government overreach. The movement seeks smaller government with lower taxes and more individual freedoms.
This document provides summaries of traditional Romanian foods, including appetizers, soups, and desserts. It describes how to make eggplant salad, tripe soup, and lamb stew as appetizers and main courses. The eggplant salad is made by roasting and mashing eggplants then mixing with olive oil, onion, lemon, and salt. Tripe soup involves simmering tripe and vegetables for 2 hours then serving with sour cream. Lamb stew is made by sautéing lamb ribs with onion and garlic then simmering with water and tomato paste. For dessert, "Birds Milk" is made by separating and beating eggs, boiling milk with vanilla, and combining into a chilled custard-like dessert.
The document discusses the long term effects of growing up with alcoholic parents. It states that approximately 20% of children in the US grow up with alcoholic family members. Some negative effects include an increased risk of substance abuse, attachment and trust issues, anxiety, depression, and witnessing domestic violence. Treatment for adults who grew up with alcoholic parents should address these types of issues and give insight into how to help these individuals. Further research is still needed on effective treatment plans.
This document provides tips for using social media to increase business profits. It recommends identifying ideal customers and offering valuable content to appeal to their interests in order to build a mailing list. The document outlines capturing leads through compelling writing and email marketing. It also suggests creating great content and promoting it on websites, blogs and social media to build a larger marketing audience.
Porto feb 2009 meetings minutes home and abroad in europe!!!!!!!!!!!!!!!!!!!!escomenius2010
1. Teachers and students from schools in Portugal, Germany, Poland, and Cyprus met in Porto, Portugal from February 24-28, 2009 for the second meeting of their Comenius partnership project focused on European identity.
2. At the meeting, they participated in teacher meetings, student workshops, and cultural activities. They also discussed plans for future meetings and tasks to complete the project.
3. Key plans included students exchanging contact information to become pen pals, creating a film about European identity to share by April 30th, and distributing questionnaires to evaluate the project. The next meeting was scheduled for November 2009 in Germany.
Have distritual innovation systems a chance for sustainable transitions. a ca...Daniel Gabadón-Estevan
The document discusses the environmental issues facing the Spanish tile industry and opportunities for sustainable transition through innovation. It provides context on energy and environmental policies in the EU, Spain, and the Valencia region. The tile industry faces challenges with energy consumption, materials use, water use, pollution, waste generation, and adapting to changing legislation and markets. Energy costs are high, raw materials are becoming scarcer, and further reductions in emissions are difficult. However, the industry has achieved sustainability gains and sees opportunities in new product innovations, recycling, and positioning itself as environmentally friendly to secure markets.
If your enterprise is on its journey of cloud adoption, and you are running proof of concept (POC) projects, there are a number of tools which can help you with cloud cost management, including tracking, chargeback and forecasting.
In this webinar, we are going to walk through live examples of using a number of tools to help with cloud cost management. These include PlanForCloud, a free cloud cost forecasting simulation engine, Enterprise Reporting, a fully features cost management and reporting service and the cost snapshot view from the RightScale Cloud Management dashboard.
Join two of RightScale's product managers and learn step by step how you can leverage these tools in your enterprise to make your cloud strategy successful starting today.
El documento discute el impacto de la globalización en la educación desde una perspectiva feminista. Señala que la globalización ha llevado a una reestructuración de los sistemas educativos para enfocarse más en las dimensiones económicas que en las sociales y éticas. También ha debilitado el estado de bienestar y ha fomentado una mayor privatización y mercantilización de la educación. Estos cambios plantean nuevos desafíos para las feministas en cuanto a cómo avanzar sus objetivos dentro de este nuevo contexto político
This document discusses retirement planning options for those close to retirement. It notes that people are living longer, placing more pressure on pension provisions. There are now many more retirement product choices than in the past, making planning more complex. The document outlines some common retirement product options available to those close to retirement, and recommends that clients read an accompanying retirement planning guide to better understand their personal circumstances and options.
The pension jurisdiction of a locked-in account determines the options available, such as retirement income choices, beneficiary designations, and access rules. Jurisdiction is based on where the pension plan is registered or where the individual last worked. Jurisdiction affects when accounts can be transferred, income options like annuities or funds, and whether accounts can be unlocked in certain situations. Knowing an account's jurisdiction is important for understanding how it can be used and managed.
The document summarizes key concepts in image formation, including how light interacts with objects and lenses to form images, and how different imaging systems like the human eye and digital cameras work. It discusses factors that affect image quality such as point spread functions and noise. Methods for analyzing the effects of noise propagation and algorithms on image quality are presented, such as error propagation techniques and Monte Carlo simulations.
The document discusses embracing mobile learning in perioperative nursing education through the development of an app called InstruMentor. It describes the process of developing the app, which included identifying the need, gaining support, surveying students, accessing resources and experts, collaborating, testing prototypes, finalizing, publishing, promoting, and providing ongoing support. The app aims to enhance students' learning of surgical instruments through mobile technology. Barriers and debates around the best format (web vs native app) are also addressed.
Biografi singkat Michael Buble, penyanyi jazz Kanada yang bermimpi menjadi penyanyi sejak kecil. Meskipun sempat ingin menjadi pemain hoki, ia akhirnya memulai karier musiknya dengan album independen sebelum ditemukan David Foster dan merilis album studio pertamanya pada 2003 yang membuatnya meraih kesuksesan besar dan berbagai penghargaan.
The document is a poem about grieving the loss of a mother. It expresses how time cannot lessen the love for the mother or the pain of her being gone. It reminisces fondly on laughing with her, talking together, and being comforted by her singing. It acknowledges that the pain of loss will be pushed deep down over time, rather than lessening, and declares that the future will be lived in her memory without ever letting go of her.
The document discusses the importance of conducting proper investigations in the workplace. It outlines that investigations should be led by someone who is senior but impartial. The investigation must focus only on the incident being investigated and adhere to company procedures and employment law. Evidence from multiple sources like statements, documents, recordings, and emails should be collected. A thorough investigation report should be produced and used to determine appropriate disciplinary action or return to work. The document also promotes an employer support package that provides employment law expertise and guidance to help companies properly handle investigations and employment matters.
Este documento describe las herramientas y servicios ofrecidos por Contesis Latinoamérica para apoyar la estrategia ERP de las empresas. Incluye herramientas operativas para administración contable, de negocios y tecnología móvil, así como herramientas tácticas y estratégicas como Calypso y Datawarehouse. También detalla los componentes de seguridad del sistema y los beneficios a corto y mediano plazo de implementar estas soluciones.
The Tea Party movement began in 2009 as a protest against taxes and large government. It started when two individuals organized the first Tea Party protest, sending tea bags to Congress to voice opposition to new taxes. Since then, Tea Party protests have occurred across the country, with people rallying against perceived government overreach. The movement seeks smaller government with lower taxes and more individual freedoms.
This document provides summaries of traditional Romanian foods, including appetizers, soups, and desserts. It describes how to make eggplant salad, tripe soup, and lamb stew as appetizers and main courses. The eggplant salad is made by roasting and mashing eggplants then mixing with olive oil, onion, lemon, and salt. Tripe soup involves simmering tripe and vegetables for 2 hours then serving with sour cream. Lamb stew is made by sautéing lamb ribs with onion and garlic then simmering with water and tomato paste. For dessert, "Birds Milk" is made by separating and beating eggs, boiling milk with vanilla, and combining into a chilled custard-like dessert.
The document discusses the long term effects of growing up with alcoholic parents. It states that approximately 20% of children in the US grow up with alcoholic family members. Some negative effects include an increased risk of substance abuse, attachment and trust issues, anxiety, depression, and witnessing domestic violence. Treatment for adults who grew up with alcoholic parents should address these types of issues and give insight into how to help these individuals. Further research is still needed on effective treatment plans.
This document provides tips for using social media to increase business profits. It recommends identifying ideal customers and offering valuable content to appeal to their interests in order to build a mailing list. The document outlines capturing leads through compelling writing and email marketing. It also suggests creating great content and promoting it on websites, blogs and social media to build a larger marketing audience.
Porto feb 2009 meetings minutes home and abroad in europe!!!!!!!!!!!!!!!!!!!!escomenius2010
1. Teachers and students from schools in Portugal, Germany, Poland, and Cyprus met in Porto, Portugal from February 24-28, 2009 for the second meeting of their Comenius partnership project focused on European identity.
2. At the meeting, they participated in teacher meetings, student workshops, and cultural activities. They also discussed plans for future meetings and tasks to complete the project.
3. Key plans included students exchanging contact information to become pen pals, creating a film about European identity to share by April 30th, and distributing questionnaires to evaluate the project. The next meeting was scheduled for November 2009 in Germany.
Have distritual innovation systems a chance for sustainable transitions. a ca...Daniel Gabadón-Estevan
The document discusses the environmental issues facing the Spanish tile industry and opportunities for sustainable transition through innovation. It provides context on energy and environmental policies in the EU, Spain, and the Valencia region. The tile industry faces challenges with energy consumption, materials use, water use, pollution, waste generation, and adapting to changing legislation and markets. Energy costs are high, raw materials are becoming scarcer, and further reductions in emissions are difficult. However, the industry has achieved sustainability gains and sees opportunities in new product innovations, recycling, and positioning itself as environmentally friendly to secure markets.
If your enterprise is on its journey of cloud adoption, and you are running proof of concept (POC) projects, there are a number of tools which can help you with cloud cost management, including tracking, chargeback and forecasting.
In this webinar, we are going to walk through live examples of using a number of tools to help with cloud cost management. These include PlanForCloud, a free cloud cost forecasting simulation engine, Enterprise Reporting, a fully features cost management and reporting service and the cost snapshot view from the RightScale Cloud Management dashboard.
Join two of RightScale's product managers and learn step by step how you can leverage these tools in your enterprise to make your cloud strategy successful starting today.
El documento discute el impacto de la globalización en la educación desde una perspectiva feminista. Señala que la globalización ha llevado a una reestructuración de los sistemas educativos para enfocarse más en las dimensiones económicas que en las sociales y éticas. También ha debilitado el estado de bienestar y ha fomentado una mayor privatización y mercantilización de la educación. Estos cambios plantean nuevos desafíos para las feministas en cuanto a cómo avanzar sus objetivos dentro de este nuevo contexto político
This document discusses retirement planning options for those close to retirement. It notes that people are living longer, placing more pressure on pension provisions. There are now many more retirement product choices than in the past, making planning more complex. The document outlines some common retirement product options available to those close to retirement, and recommends that clients read an accompanying retirement planning guide to better understand their personal circumstances and options.
The pension jurisdiction of a locked-in account determines the options available, such as retirement income choices, beneficiary designations, and access rules. Jurisdiction is based on where the pension plan is registered or where the individual last worked. Jurisdiction affects when accounts can be transferred, income options like annuities or funds, and whether accounts can be unlocked in certain situations. Knowing an account's jurisdiction is important for understanding how it can be used and managed.
1) Understanding your employer-sponsored pension plan is important to avoid surprises in retirement. The two main types are defined benefit (DB) plans that guarantee a specific pension amount, and defined contribution (DC) plans where the pension depends on accumulated contributions and investment returns.
2) When you join a plan, you will need to provide personal details and make decisions about contributions and investments. Leaving an employer requires deciding what to do with your pension benefits, such as transferring funds to a locked-in retirement account.
3) In retirement, your pension options will depend on the type of plan and could include receiving income directly from the plan or transferring funds to purchase an annuity. When and how you receive your
This document discusses key factors in retirement planning, including increased life expectancy, inflation, declining pensions, and health care costs. It outlines 5 steps for retirement planning: 1) set goals, 2) estimate expenses, 3) determine resources, 4) estimate savings needed, and 5) make adjustments if savings are insufficient. The document emphasizes starting to save early, maximizing tax-deferred savings plans, diversifying investments, and seeking professional financial planning assistance.
This newsletter provides information about Social Security benefits, health insurance options for early retirees, ways to pay for graduate school, and the key provisions of the new Credit CARD Act of 2009. Specifically:
- Delaying receiving Social Security benefits past full retirement age results in larger monthly payments due to delayed retirement credits of up to 8% annually.
- Early retirees need to consider health insurance options like COBRA or individual policies since few employers offer retiree health benefits.
- Graduate students can take out federal loans, apply for scholarships and grants, and use employer educational assistance or education tax benefits to help pay for school.
- The Credit CARD Act of 2009 aims to increase transparency and
Across the Spectrum Newsletter September 2010Michael Doyle
The document discusses recent pension reforms in France and Luxembourg. It recommends clients consider joining their company's occupational pension scheme if the company matches contributions. It also notes that additional private savings are typically needed since pensions alone may not provide sufficient retirement income. The author offers to meet with interested clients to discuss their individual retirement savings needs.
This document provides information to help readers determine how much to save for retirement. It recommends figuring out retirement income needs based on planned retirement age, desired lifestyle, life expectancy, expected investment returns, and whether principal will be drawn down. It then discusses building a retirement fund by saving as much as possible as early as possible, using employer-sponsored plans that offer matching contributions, IRAs, annuities, and other investments. Employer plans, IRAs, annuities, and other options each have unique tax advantages and disadvantages to consider.
The document discusses annuities and provides information about whether an annuity is right for retirement planning. It asks questions to consider like whether you are concerned about outliving your income or maintaining your lifestyle in retirement. It also discusses accumulating funds in deferred annuities to help minimize gaps in retirement income. Annuities offer guaranteed lifetime income options to complement other retirement income sources. The document summarizes types of annuities and their tax benefits, as well as features like income options and death benefits that make annuities a valuable part of a diversified retirement portfolio.
Retirement: What you need to know to retire successfullyMichael Goodfellow
The financial decisions you make as you ease into retirement will have implications that may be felt, quite literally, for the rest of your life. Retirement is a major life change. Clearly, a fulfilling retirement requires not only financial preparation, but also a clear vision of what kind of life you’d like to lead during retirement.
The document is a quarterly newsletter for Homestead Funds shareholders. It discusses Homestead Funds celebrating 20 years of investing for shareholders, preparing for retirement by estimating expenses, longevity, and income sources, and provides a spotlight on the bond funds managed by Homestead Funds.
1) Exceptions to the early withdrawal penalty from retirement accounts include distributions for qualified education expenses, home purchases up to $10,000, and health insurance premiums during unemployment.
2) Distributions due to death, disability, medical expenses, IRS levies, and qualified domestic relations orders are also exempt from the penalty.
3) The substantially equal periodic payments exception allows penalty-free withdrawals if amounts are taken at least annually based on an IRS-approved calculation method until age 59.5.
The document provides information about pension plans in India. It discusses that PFRDA regulates the pension sector in India and was established in 2003. It then explains what pension plans are, how they provide individuals with a regular income in retirement. It also discusses the history of pension plans shifting from employer-provided to individual plans. Finally, it outlines the key factors to consider to calculate a retirement corpus and describes different types of pension plans and annuity options available.
Returning to work after retirement can impact finances in several ways. Social Security benefits may be reduced if earnings exceed certain limits before full retirement age. Pension eligibility may also be affected and depend on the plan's rules. However, working provides opportunities to contribute to retirement accounts and delay required minimum distributions, allowing savings to continue growing. Anyone considering un-retiring should review the effects on benefits and make adjustments to their financial plan accordingly.
September ViewPoint Newsletter from Steve Stanganelli CFP(R)Steve Stanganelli
Welcome to the September 2011 edition of the ViewPoint Newsletter from Steve Stanganelli, CFP(R) of Clear View Wealth Advisors, a fee-only RIA located in Massachusetts. In this issue, retirement income planning, college funding strategies and tax tips for business owners and those going through divorce are shared.
This document provides an overview of pension annuities and how they can provide retirement income for life. It explains that when people retire, they must decide how to convert their pension fund into regular income, with an annuity being a popular option. An annuity is a form of insurance that guarantees to pay an income for life regardless of longevity. The document notes statistics showing people are living longer, so securing lifetime income is important. It also discusses factors like inflation that can impact retirement costs over time.
A document discusses accumulating funds in a deferred fixed interest and indexed annuity for retirement. It describes how annuities can be used to systematically save money and guarantee retirement income that cannot be outlived. It then provides details on sources of retirement income, obstacles to retirement planning, and how annuities can help overcome those obstacles by allowing tax-deferred growth and converting savings into guaranteed lifetime income.
The document outlines a 6 step process for retirement planning that includes determining retirement timelines, income needs, current savings, and sources of retirement income in order to calculate any funding gaps and develop a retirement roadmap. It uses the analogy of planning a journey with different phases of retirement as segments and checkpoints to ensure adequate funding throughout retirement. The final step is to answer 6 questions to receive a personalized retirement roadmap.
The document summarizes key features of the London Life lifetime income benefit option, which helps manage risks in retirement. Some key points:
1) It provides guaranteed, predictable income for life starting as early as age 50, regardless of how long the person lives or how markets perform. Income amounts are based on age and increase over time.
2) It offers potential increases to income through annual 5% deferral bonuses for delaying withdrawals, allowing the income base to grow even in down markets.
3) Income amounts can be "reset" every 3 years to higher levels if the policy value has increased, securing gains and providing opportunity for growth in retirement income. Resets are available for life of the policy
The document summarizes the key features of the London Life lifetime income benefit option, which provides guaranteed lifetime income in retirement. It offers:
1) Predictable, guaranteed income for life starting as early as age 50 that is not dependent on market performance or how long the person lives.
2) Potential for increasing income through a 5% annual deferral bonus on income not taken and periodic income resets as the policy value increases over time.
3) Protection against longevity, market, and inflation risks by transitioning savings into guaranteed lifetime income regardless of fund performance or market drops.
The document summarizes a retirement income product called SecureSource 3 that is available through RiverSource variable annuities. It provides guaranteed lifetime withdrawal benefits and growth opportunities to help investors achieve their retirement goals of growing their money, creating a reliable income stream in retirement, and leaving a legacy. Key features include guaranteed lifetime income based on a percentage of the benefit base, opportunities to increase income through annual credits and locking in investment gains, and the potential for an annual income bonus.
This document provides the individual marginal tax rates for salary income in 2014 for each Canadian province. It notes that the rates include federal and provincial taxes but not provincial health premiums. The rates shown apply to individuals with salary income in the middle of the tax brackets. Higher rates may apply for income exceeding certain thresholds in some provinces. The document also notes that small provincial taxes may apply in Manitoba and PEI for salary income just above $10,500 and that Ontario proposed new tax brackets and rates in their 2014 budget.
The document provides a table showing the combined top marginal tax rates for individuals in Canada for 2014. The rates shown include federal and additional provincial tax rates for income levels above the federal tax bracket. The table lists the combined tax rates for regular income, capital gains, eligible dividends, and non-eligible dividends for each Canadian province and territory. Notes below the table provide information on tax rate changes in some provinces for 2014 related to non-eligible dividends.
The document contains personal and financial information for a family including names, addresses, occupations, dependents, and education details. It also includes monthly expenses, income sources, goals which are ranked as most important including retirement planning, education planning, and tax planning. The financial advisor's contact information is provided at the end.
This document provides information about tax considerations for Canadian snowbirds traveling to the United States. It discusses how snowbirds can be considered non-resident aliens or resident aliens by the IRS depending on their length of stay and ties to the US. It notes that both Canada and the US tax worldwide income based on residency, so snowbirds need to be careful not to be deemed residents of both countries. The document also outlines the substantial presence test and closer connection exemption that determine residency status, and lists various social, economic, and personal ties that are considered for the closer connection test. Finally, it discusses the US estate tax implications for non-residents based on their US situs property holdings.
The document summarizes how corporately-held life insurance can be used as a tax minimization tool for the estate of a shareholder. It provides examples of how deemed dispositions at death can trigger capital gains taxes, and how life insurance death benefits credited to the corporation's capital dividend account can fund tax-free distributions to the estate to avoid double taxation. Specifically, it compares different post-mortem planning strategies, finding that using an insured redemption where some dividends are taxable and some capital preserves half the capital dividend account and results in the lowest total taxes.
Things you may need to know about your parents, before it's too late. Having the talk with aging parents can often be difficult, however, not having the talk, will likely prove to be much more difficult, later! This information will help you guard against some of the estate pitfalls that are about to hit the baby-boomers.
The principal residence exemption allows homeowners to exempt some or all capital gains realized from the sale of a principal residence from taxation, providing significant tax savings. However, if two homes are owned during the same period that could qualify as a principal residence, at least some of the gains on one home will be taxable. When selling the first home, homeowners must decide whether to designate it as their principal residence to exempt future gains on the second home, or pay taxes now to fully exempt gains on the second home later. The example demonstrates this choice between paying taxes on one home's sale now or the other home's sale later.
1) Foreign pension plans can potentially be transferred to a Canadian RRSP, allowing the pension income to be tax deferred in Canada. However, several issues must be considered regarding the rules and tax implications in both Canada and the original country.
2) It needs to be determined if the foreign pension plan is transferable under the rules of the original country. The tax consequences of transferring or keeping the plan in the original country also require examination.
3) Upon transfer to Canada, any foreign tax paid may be eligible for foreign tax credits to offset Canadian tax owing on the pension income. But the specific tax rules between Canada and the original country must be understood to determine the full tax impact. Independent tax and legal advice is
The document provides information about succession planning for a family cottage. It discusses the tax liability that may arise when passing a cottage to the next generation upon death. It recommends planning ahead to minimize taxes, such as designating the cottage as a principal residence or tracking capital improvements to increase the adjusted cost base. Handling ownership transfers during life or planning for multiple owners also requires consideration of tax and family relationship issues to preserve the cottage for future generations.
This document provides a personal representative checklist that outlines the executor's duties when settling an estate. It details arranging the funeral, notifying family and employers of the death, making necessary financial arrangements, claiming insurance benefits, attending to tax matters, distributing assets according to the will, and closing out accounts. The checklist covers over 20 specific tasks involved in settling the estate, from paying final bills to distributing remaining assets. It aims to give executors a comprehensive understanding of their responsibilities.
1) A tax-planned will that creates a testamentary trust can help reduce taxes for surviving spouses and children compared to leaving assets directly to beneficiaries.
2) By establishing a testamentary trust, assets can be income split between the trust and beneficiaries, taking advantage of each of their individual tax brackets and credits to lower their overall tax burden.
3) Common candidates for a tax-planned will include those with wealth in non-registered assets like real estate, stocks, bonds and private corporations, as well as life insurance proceeds. Planning is especially beneficial for high income or high net worth individuals.
This document summarizes Canadian pension and retirement benefits for January to March 2013. It outlines the maximum monthly amounts and number of recipients for the Canada Pension Plan (CPP), Quebec Pension Plan (QPP), Old Age Security (OAS) and related benefits. Key benefits include retirement pensions up to $1,012.50/month, disability up to $1,212.90/month, and survivor benefits up to $607.50/month. In total over 5.7 million Canadians received CPP/QPP benefits worth nearly $3 billion in October 2012. The OAS provided over $2.6 billion to more than 5 million Canadians.
Ed Madro is a consultant with Investors Group Financial Services Inc. located in Calgary, Alberta, Canada. His contact information is provided. [END SUMMARY]
An Individual Pension Plan (IPP) is a defined benefit pension plan that offers higher tax-deductible contributions and accelerated tax-deferred growth compared to a RRSP. It provides a guaranteed lifetime retirement income based on a formula of the member's age, salary, and years of service. Key advantages include guaranteed pension benefits, potential for higher contributions, ability to make past service contributions, and creditor protection. However, it also has disadvantages like reduced RRSP limits, inability to access funds before retirement, and higher setup and administration costs than other plans. An IPP may be suitable for business owners, executives, or employers seeking enhanced retirement benefits for key employees.
Planning Process. This presentation outlines how we get results for you and your family. If you are tired of having more questions than answers, give me a call. 403 220-9654.
2. Sources and choices
for retirement income
Tax-Free Savings Accounts
(TFSAs)
Retirement can come as
a profound shock to many
newly retired people. Clearly,
Retirement Savings Plans
a fulfilling retirement requires
not only financial preparation,
but also a clear vision of what
kind of life you’d like to lead
during retirement.
you can’t afford to lose sight of the This means contributing the allowable payments. Your Investors Group from your non-registered assets
fact that you may require an income maximum to your RRSP every year Consultant can help you to select before accessing capital from your
for 20 years or more. As a result, and allowing the contributions to the term that's right for you. tax-sheltered assets may be advisable.
Plan to stay active – Many people
you’ll need to protect yourself from grow uninterrupted for as long 4. Convert your RRSP to a The fact that RRIF withdrawals
believe retirees do most of their
Company pensions
the danger of outliving your savings. as possible. If you have unused Registered Retirement Income are fully taxed provides an added
major spending within the first few
and locked-in accounts
years of their retirement, arguing Your plan could include stocks contribution room available, you’ll Fund (RRIF): RRIFs are very much incentive to leave as much of your
this eliminates the need to prepare (equities) or equity mutual funds. want to be sure to take advantage like RRSPs, with two exceptions: registered assets sheltered as long as
financially for a lengthy – and expen- of it in these last few years leading you cannot contribute previously you possibly can. Further, depending
Generally speaking, these kinds of
sive – retirement. Don’t believe it. up to your retirement. If necessary, unregistered money to your RRIF; on how you invest outside of your
investments have consistently provided
consider an RRSP catch-up loan to and you are required to withdraw a RRSP or RRIF, non-registered assets
The fact of the matter is Canadians better returns than those available on
ensure that contribution room minimum amount each year. may receive preferential tax treatment,
are living longer, and staying active interest-bearing accounts over longer allowing you to keep more of what
is not wasted. The advantages of RRIFs – The
TIPS FOR PLANNING BEYOND RETIREMENT
longer, than ever before. Many periods of time. Your plan should you earn.
people who once anticipated being also guard against market volatility, Your retirement income options – minimum amount you’re required
able to enjoy travel and various especially a market decline early in You’ll have to convert your RRSP to to withdraw from your RRIF each
leisure activities only in their early something that produces an income year is a percentage of the value of
retirement that could significantly
retirement years are now finding by December 31st of the year in which the RRIF. It can be based on either
reduce your retirement income.
they’re able to continue that level you turn 71. When you choose to your age or that of your spouse and A TFSA can be used as another
of activity well into their 80s. Essentially, your portfolio needs to convert your RRSP, you’ll have four the percentage increases each year. source of retirement funds as it is
3 Make your maximum RRSP contribution for 3 To minimize the amount of RRIF income
include a mix of investments that help basic options: If you have a younger spouse, you designed to help Canadians save for
as long as you can. You can contribute to you’ll be required to expose to tax, base
At the same time, inflation, even with protect against market downturns may find it advantageous to base important goals and reduce their
your RRSP until the end of the year in which your RRIF withdrawals on the age of the
annual increases in the two to three 1. Cash in your plan: This is the least your withdrawals on your spouse’s
you turn 71 – whether you’re working or not younger spouse.
while also delivering a cash flow that overall tax bill.
per cent range, can whittle away your advisable route, as you’ll likely pay
– if you have contribution room available.
will sustain your retirement lifestyle. age, as the required minimum
3 To get the most tax-deferred growth from
savings’ purchasing power if you’re tax on the entire sum at the highest You put money in, you get the money
withdrawal will be smaller, thereby
3 Since RRSP contribution room is based on your RRIF, withdraw only the minimum
not careful. Be aware that the cost of marginal tax rate. and growth back out tax-free; you can
previous year’s earned income, you will have amount required and choose December 31
allowing you to shelter more of
withdraw funds at any time and for
RRSP contribution room the year after you of each year as the date you’ll receive your
commodities and services that affect 2. Buy a life annuity: A life annuity your wealth from tax.
retire. Be sure to make an RRSP contribu- annual income. You’re not required to
retirees the most–such as prescrip- You’re already familiar with the any purpose without incurring tax.
will pay you a specified income,
tion the year after you retire. If you intend to receive any RRIF income until December 31
tions and health care–often rise more You can withdraw any amount
work beyond age 71, you can still contribute of the year following the year that your RRIF
benefits of Registered Retirement usually monthly, for the rest of There are also no age restrictions
beyond the minimum each year,
to a spousal RRSP if your spouse is younger was established.
dramatically than the conventional Savings Plans (RRSPs). In general, your life. on withdrawals and your eligibility
including lump sums should a
than you. If this is not possible, consider
“family” living costs used to measure it’s usually a good idea to shelter for federal income-tested benefits,
making an over-contribution to your RRSP in
broad movements in consumer prices. 3. Buy a term-certain annuity : This special need arise.
such as Old Age Security (OAS), the
December of the year in which you turn 71.
as much of your savings from tax type of annuity guarantees payments
Building a portfolio for your as possible. You can hold virtually all the same Guaranteed Income Supplement
for the duration of the term selected. investments in your RRIF as you
retirement – While your retirement (GIS) and the Age credit, will not
The longer the term, the smaller the currently hold in your RRSP.
may now be less than five years away, be affected.
You can split your RRIF income, for
tax purposes, with your spouse if you value of the member’s flex account
are at least 65 years of age. Talk to can be used to purchase one or more
us before considering this option. Defined Benefit (DB) plans – ancillary benefits, such as some form
With all this flexibility, it’s no As the name suggests, DB plans of cost of living increase, a bridging
surprise most people choose RRIFs. “define” the pension benefit payable feature – which provides a higher
upon retirement based on a formula income prior to receipt of CPP/QPP
Non-registered investments – that reflects your earnings and years and OAS benefits – or an unreduced
You may choose to supplement of service. pension for early retirement.
the income you receive from your
registered investments with income Flexible benefit (flex) plans – Some Defined Contribution (DC) plans –
from your non-tax sheltered savings DB pension plans contain a flexible With a DC plan, the member’s
and investments. In fact, because of benefit (or “flex”) feature. These give contributions, together with their
the powerful effect of tax-deferred, members the option of making employer’s contributions and the
compounding growth on your additional voluntary contributions plan’s investment earnings, are used
registered assets, drawing income to the plan. Upon retirement, the to purchase a life annuity contract.