how much have they got? find the OAS full amount each at 67 determine CPP,"Assume they qualify for 80% determine joannes pension outline any assumptions (income splitting, investment portfolio, RRSP'S, TFSA, ETC)

annual inflation rate over the entire pre and post retirement period is 2% and that investments have or will make will yield at 4% return

CPP and OAS revenue, when received at age 65, will be in inflated dollars with the claw-back (if any) based on their retirement income at that time.

Alan is 50, Joanne is 51. They lawe a lange bomse worth swan, for in Torman and a collage worth S20b,00f in Muskoka. Morgage payments on these properlies ane 92,00) pai. and they will be paid off in 10 years Thoy bue no other debis, altiongli licy just finished paying off a car loar. They each own a recent madk car, and iley replace their cars ewery thoe or four years becanse they do not want to be seen driving older models. Alan's net income nedleal insurance, de. Jeanne lakes home 340,000 pa afler lie same set of dedicetons and coniributions to her employer pendion plad. They have two chidren whem they are currently helping thongh schint, at a cost of \$25,oun p.a. The cost will continue for another fre years, affor which the children ane on their unu. Ihey are bolit carring subatantial lfo incurance and disability incurance, all of the cost af which is dedueted from their groses pey in antiving at the ret inome raported abowe They liave ffoneon in a dheguing accognt and a subtandal line of credit at the hank if they need it. Alan has 530,000 in an oil and gas murual fund. He has no peisinan plan Joange lias 120000 imcsted in Oics in an RRSP. retires at age 61 . They would each qualiy for only 80% of maximuan Canada Pension, and that would be further reduced if they sart receiving it before age 65. Alan has been earning gross income over si00.0M0 pa. for five years, and he expects the $100,000 net income of last year to be suetainable wintil he retires. He started saving money only in the last two years. Last year he deposited S15,000 in the mutual fund (this amount is included in the S30,000 balance). Joanne has been contributing $1,000$2,000p.. to her RRSP for 10 years. They would like to retire in 10 years. Advise them in their retirement planning. Alan is 50, Joanne is 51. They lawe a lange bomse worth swan, for in Torman and a collage worth S20b,00f in Muskoka. Morgage payments on these properlies ane 92,00) pai. and they will be paid off in 10 years Thoy bue no other debis, altiongli licy just finished paying off a car loar. They each own a recent madk car, and iley replace their cars ewery thoe or four years becanse they do not want to be seen driving older models. Alan's net income nedleal insurance, de. Jeanne lakes home 340,000 pa afler lie same set of dedicetons and coniributions to her employer pendion plad. They have two chidren whem they are currently helping thongh schint, at a cost of \$25,oun p.a. The cost will continue for another fre years, affor which the children ane on their unu. Ihey are bolit carring subatantial lfo incurance and disability incurance, all of the cost af which is dedueted from their groses pey in antiving at the ret inome raported abowe They liave ffoneon in a dheguing accognt and a subtandal line of credit at the hank if they need it. Alan has 530,000 in an oil and gas murual fund. He has no peisinan plan Joange lias 120000 imcsted in Oics in an RRSP. retires at age 61 . They would each qualiy for only 80% of maximuan Canada Pension, and that would be further reduced if they sart receiving it before age 65. Alan has been earning gross income over si00.0M0 pa. for five years, and he expects the $100,000 net income of last year to be suetainable wintil he retires. He started saving money only in the last two years. Last year he deposited S15,000 in the mutual fund (this amount is included in the S30,000 balance). Joanne has been contributing $1,000$2,000p.. to her RRSP for 10 years. They would like to retire in 10 years. Advise them in their retirement planning