SESSION OVERVIEW:

The common thread in retirement income planning is tax efficiency. When advisors keep an eye on the taxes paid throughout the three phases of retirement planning - pre-retirement, in-retirement and post-retirement - they can add big value in helping clients overcome several obstacles in their transition to retirement, including the maximization of income during periods of unusual market volatility.

APPROACH:

Advisors need to help their clients answer the question - Can I afford to retire on a fixed income? Often the answer to the question lies in demonstrating that a predictable income is possible over a set period of time using three specific sources: the OAS (Old Age Security) and the CPP (Canada Pension Plan), as well as private savings, in registered and non-registered accounts. Each features tax assisted savings opportunities, which will be discussed in this module.

WHAT YOU WILL LEARN:

• How will taxes erode my income and my capital?
• How can tax planning increase our cash flow?
• How to layer sources of income with an eye toward tax-efficiency help, especially in light of new tax provisions?

LEARNING ACTIVITIES: To test the learning process, the student will answer multiple-choice questions and contemplate the role of the advisor.