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TODAY AND TOMORROWFINANCIAL TAX LIFESTYLE RETIREMENT & ESTATE PLANNINGSEMINARSRon 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 RETIRING? Ron RousseauxM.C.I., T.E.P., CSAIncome Guarantees - No Guarantees or a Combination of both It really does not matter if you have been retired for sometime now or are When you look at some of what I have presented so far you may say that thea Baby Boomer getting ready to retire or if my research is correct Semi actions of Baby Boomers will start to cause inflation and in fact a week does notRetirement the retirement community is about to undergo such a drastic go by that someone asks me when do I think interest rates will go up? I knowchange that most people are going to re-think their retirement plans.that they are referring to the high interest rates of the 1970s and 1980s. Just thinkwhat would happen to not only the Baby Boomers who still have debt and areRight now in Canada we have approximately 10 to 12% of our population not saving but generation Xers and Yers who are just getting by and can affordretired and these retirees are expected to live a long and healthy life. Over their homes only because of two incomes and low interest rates. Governmentsthe next 20 years which starts in 2011 we are expecting another 25 to 28% would love inflation like the 70's and 80's as it would pay off deficits much fasterof Canada's population to join those that are already retired for a total of 35 but those high inflation rates would also cripple our economy.to 40% of Canada's population being retired.These new retirees are known as the Baby Boomers and they are different than previous retirees in that they are Lets look at some other areas that may impact the coming retirement used to living for today, a way of living that may need to change drastically.problem:Boomers are the children of, for the most part, our World War Two veterans.1) Boomers had more growing up and will demand more in retirement - don't Boomers affected all of North America as the Americans have Boomers in equal forget they still represent a lot of votes.numbers and their numbers will affect Canada and our future retirees. Boomers;2) Most Boomers do not have a company pension plan.when they were born there were not enough schools, not enough diapers,3) Most Boomers did not and do not save money for retirement.not enough teachers-pediatricians etc.etc.and right now there are not enough 4) Boomers are still in debt and low interest rates are helping them pay off retirement facilities or medical facilities for what is coming.that debt.Baby Boomers start retiring this year and in Canada that is at a rate of 26,667 5) Boomers, contrary to what they say, are looking for an inheritance.per month or 320,000 per year. In the United States the rate of retirement is 10,000 per day or 3,650,000 per year for the next 20 some odd years.What a 6) The higher costs related to the Boomers retirement have already started change in demographics; and what a change in economics for both countries.in be incurred in that the medical costs for a senior are on average much The possibility of having between 35 and 45% of your population retired and higher than for non retired persons.living well past any of the calculations used for government pensions can and What does all of this have to do with Guarantees or no Guarantees on Assets will cause major changes in how we retire and when we retire. One estimate and Income? I think that I am showing that the future, which started January 1st that was in the Globe and Mail was that Ontario alone would have an annual 2011, is going to cause a lot of changes in how we think about retirement and deficit of some 15 billion dollars a year starting in 2015 and increasing to 20 the future is going to cause us to rethink how we invest or take an income in billion dollars per year in 2020 for some 15 to 20 years, and that is just Ontario.the future. Next weeks article will be dealing with the same subject but I will (It is just my opinion but I think an estate tax is coming very soon.)start showing ways that may help offset some of the uncertainty that is coming Normally you would think that any deficit is not a problem as we can pay it off but everything is not going to look rosy for us. On February 12, I am holding with tax increases or leave it to the next generation. I do not think that this is a public seminar which will deal with Product Allocation for Retirees as this an option this time, lets look at some facts.subject is going to be very important in the near future.We will also look at the following topics:1) From the Florida Weekly- Behind the Baby Boomers, Generations X and Y are too small in numbers too pay for their parents longevity.a) Guarantees on Capital.2) There are not enough Generation Xers and Yers to purchase all of the b) Guarantees on your income.houses that will become vacant by their parents in order to get at the c) Inheritances and keeping them away from those who wish to take some of equity of the house as it will be needed to pay the medical bills of their it be that taxes or fees.parents and given supply and demand the value of the houses will be d) RRIF Meltdowns and why you may want to use this strategy.substantially reduced.e) Locked In Funds and are you taking advantage of the new rules.3) Not enough generation Xers or Yers to fill all of the vacant rental units f) Proposed changes to the CCP.created by the older retirees.g) Taxation during retirement and before in order to save tax dollars now and later.Please join me on Saturday, February 12th from 10:00am till 11:30am at the Burlington Art Centre in Burlington.We must all change and yet the vast majority of us are afraid of change. I am presenting you with information that can help you make changes for the future and help ensure that you understand those changes.For reservations please contact us at 905-336-9941or email us at kaylar@todaytomorrow.com.CELEBRATING OUR 18TH ANNIVERSARYwww.oakvillebeaver.com OAKVILLE BEAVERThursday, January 27, 2011 16