TODAY AND TOMORROW FINANCIAL TAX LIFESTYLE RETIREMENT & ESTATE PLANNING SEMINARSRon Rousseaux is a well-known, successful and respected Independent Financial, Tax, Retirement and Estate Planner located in Burlington. He is the Leader of the Today & Tomorrow team with a background encompassing Finance, Revenue of Canada, Private Industry, Technical Advisor and one of a few Certified Senior Advisors in Canada.Voted Best Financial Planner: Burlington: 2001 to 2010 Oakville: 2006, 2008 & 2010 Flamborough: 2005 to 2010RETIRED OR THINKING ABOUT RETIREMENTRon RousseauxM.C.I., T.E.P., CSAIncome Guarantees-No Guarantees or a CombinationIn my previous article I outlined the looming problem facing Canada as a in that it is being projected that the Boomers will become the caregivers result of the upcoming Retirement of our Baby Boomer Generation. Starting of their parents; and their parents have been living for today so they have this year, Canada will see over 320,000 new retirees per year or 26,667 very few dollars to spare. From experience, I know what this will do tonewly retired people per month. This will continue for the next 20 years. Our relationships. What about her parents or his parents, what about their incomeAmerican neighbours are facing the same problem but multiplied by 10 as requirements, who looks after the Grandparents while Mom or Dad are at they will be facing some 3,650,000 new retirees per year or 10,000 per day.work, the grandchildren? Major problems are coming and all of them based on dollars. As well, everyone has a much longer life expectancy.Over the last couple of months the news media has started to focus on this problem and sighting many variations of the problems our country will be The world as we know it is about to change more than anyone expects it to. facing over the coming 50 year period. I say 50 years because it will take 20 The Government is We the People and We the People have very few dollars years for the full number of Boomers to retire and given that they are living set aside for the future. Change is going to be required. Yes, that dreaded word into their 90's we have a 50 year problem and one that is only started to be change but change we must and it has to start sooner than later. addressed by governments and the Boomers themselves.My Seminar February 12th, from 10:00am-11:30am at the Burlington Art The problem is not that the C.P.P. will run out of money as the governmentCenter located in Burlington is going to deal with some of that change and has to increase premiums to keep it afloat and the changes beingProduct Allocation, the newest thinking process for those currently retired proposed will help salvage the C.P.P. However, please remember that the C.P.P.and those beginning to look at retirement.represents only approximately $8.000.00 per year for those qualifying for full Topics: GWB: Guaranteed Withdrawal Benefits. These are the newestbenefits. The O.A.S. comes from tax revenues and it was never promised to be products being made available to us. They have such guarantees as, Income there for ever and if we do some basic calculations once the Baby Boomers for life (Great for R.R.I.Fs) Bonuses that can increase the GWB; Incomeretire in full we will have 35% to 40% of our population retired. That is the guarantees of 5%, 6% or a combination if required; Capital Guarantees which problem, as not enough of us are paying taxes.can increase; Tax Efficient Income for Non Registered dollars; Estate Benefits The main issue facing the Boomers and for that matter governments is that that will surely be needed in the future.approximately 65% of Boomers have no company pensions and they have not G.I.Cs: Guaranteed Insured Contracts. I will talk about the normal bank G.I.Cs been saving for retirement. Those who are saving for retirement are averaging but I will also talk about the Insurance Industry G.I.C. which possibly could be $1,500.00 per year. The average Canadian has a debt ratio of 148% of income even better than the ones offered by banks or trust companies given theory and this is climbing. In effect, the downsizing in the Boomers lifestyle is going flexibility.to be so severe the deficits being projected by Ontario starting in 2015 (Globe and Mail) are 15 billion and growing to 20 billion per year for the next Annuities: Two types of Annuities will be looked at a) Pension dollars for 20 years, and that is just for medical coverage.those who no longer wish to worry about their pension dollars, but want to ensure that they or their children receive the entire asset. b) Annuities for If you think that this article is just being negative, it is, and it must be. Our non registered dollars for those who want a guaranteed tax effective income world in Canada is about to change in a big way. This is going to affect current and guarantees that they or their children will receive all of their funds, and retirees and the Boomers, so please do the math. It just does not work out at the same time potentially lower their tax rates.anymore. We cannot pass on our problem to the next generations known as Gen X and Gen Y. There are not enough of them and they are the ones being T.F.S.A.: Tax Free Savings Accounts: Do you use them or not? Do they replace affected the most by the recent recession. A lot of Boomers own their own R.R.S.Ps ?homes or a part of it and are looking to sell it at retirement. Well if you look R.R.I.F. Meltdowns: What are they? How can I benefit from them? Why the at all Boomers thinking this way and downsizing, who do you think is going to new C.P.P. rules can assist in your decision making.buy them? Surely not at current process as the market place will be flooded.Taxation: Ways to reduce taxation will be discussed with examples given. I think that the picture above is very bleak but it can become even worse Please join me on Saturday, February 12thfrom 10:00am till 11:30am at the Burlington Art Centre located at 1333 Lakeshore Road, Burlington.Handouts to be provided and refreshments served.For Reservations please contact us at 905-336-9941or email us at kaylar@todaytomorrow.com.CELEBRATING OUR 18TH ANNIVERSARYwww.insideHALTON.com OAKVILLE BEAVER Thursday, February 3, 2011 14