Cliffsnotes Planning Your Retirement for Canadians

by Craig, John; Perry, G. Michael; Sorkin, Howard L.

• ISBN13: 9781894413213
• ISBN10: 1894413210
• Format: Paperback
• Copyright: 2000-06-01
• Publisher: John Wiley & Sons Inc

Summary

Your shortcut to success. Master the essentials. Gain confidence. Meet new challenges. Fast. That's the reason for CliffNotes. With this trusty guide, you'll get up to speed fast on how to prepare yourself for a secure financial future.

Table of Contents

Introduction Why Do You Need This Book? How to Use This Book Don't Miss Our Web SiteChapter 1: Understanding the Basics What Is a Retirement Plan? Why Saving Earlier Is Better Benefits of Retirement Planning For you, the employee For you, the independent planner Company-Sponsored Pension Plans Terms and conditions of company-sponsored pension plans Looking at other types of retirement plans Types of Retirement Plans Defined benefit plans Defined contribution plans Group RRSPs Other Retirement Investments and Savings ProgramsChapter 2: Assessing Your Goals Gathering Information Your assets and liabilities Your current income Your retirement estimates Your benefit plans Using the Internet Using a Computer Software Program Setting GoalsChapter 3: Making the Most of Your Defined Benefit Plan Determining Contributions and Benefits Planning for Changes and Inflation Protection of retirement funds Integration with the Canada Pension Plan/Quebec Pension Plan Transferring assets between pension plans and RRSPs Taking Your Distributions of Benefits Choosing the joint and survivor option Deciding when to take retirement benefits New vesting rulesChapter 4: Making the Most of Your Defined Contribution Plan Characteristics of Defined Contribution Plans The importance of contributions Tax benefits Types of defined contribution plans Managing individual contributions Planning for Changes and Inflation Taking Your Distributions of Benefits Vesting and leaving the company Rollovers Divorce Summary plan description (SPD)Chapter 5: Making the Most of Your Group RRSP Group RRSP: What It Is and How It Works Employer matching Investment choices Vesting and communication Getting investment education Evaluating investment risk Diversifying your investments Compounding Getting the Most Our of Your Group RRSP Investing in your company's stock Making changes to your investment plan Getting more informationChapter 6: Tax-Sheltered Annuities and RRIFs Tax-Sheltered Annuities Annuity pros and cons The RRIF Option RRIF withdrawals LIF and L-RIFs Growth in your RRIFChapter 7: Individual Registered Retirement Savings Plans RRSP Basics Types of RRSPs Off-the-shelf RRSPs Self-directed RRSPs Assessing RRSPs Advantages of RRSPs Withdrawing From Your RRSP Withdrawal penalties Withdrawals without penalty Converting Your RRSP Registered Education Savings Plans Where to Buy Your RRSPChapter 8: Government-Sponsored Pension Plans Canada Pension Plan Changes Related to the CPP Calculating your CPP Benefit Statement of Contributions Paying for Your CPP Pension Adjustments for early and delayed retirement Working after retirement Beginning your benefits Old Age Security Guaranteed Income SupplementChapter 9: Retirement Investment Strategies Saving for Retirement Setting your savings goals How investments grow Learning the investment lingo Considering Your Risk Tolerance Determining your risk profile Distributing your risk Stock market movement Maximizing the Money You Save for Retirement Dollar cost averaging investments Reducing brokerage commissions Using professional financial planners The benefits of mutual funds Retirement investment tipsChapter 10: Estate Planning Exploring the Basics of Estate Planning Death and taxes Probate Fees Documents of Estate Planning Drawing Up a Will Making an Inventory of Your Assets

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