JoAnne Muegge
Carol Budnyk
Carol Budnyk
Your Gulf Islands and South Vancouver Island REALTOR

HELPING YOU IS WHAT I DO.

Cell:250-588-3378
Toll Free:800-461-5353
Office:250-477-5353

carolbudnyk@royallepage.ca
www.realestatependerisland.com

Mortgage Success


Independently Owned And Operated
ROYAL LePAGE Coast Capital Realty

Message From Carol

Welcome! Beginning to plan for retirement can seem daunting at times. In an effort to make this transition easier for you I have compiled some key information below that will be useful as you begin to make some of these important retirement decisions.

All the best,
Carol Budnyk
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February 2010 Issue
Securing Your Retirement 
Planning for retirement is crucial to securing a comfortable future. Seniors today will receive the majority of their retirement funds from either the Canada Pension Plan (CPP), Old Age Security (OAS) or through private pensions and savings.saving

The Canada Pension Plan is available to those who have contributed when they reach 60 years of age. Along with retirement benefits this monthly payment will also pay disability and survivor benefits. Survivor benefits include a one-time payment to the estate of the CPP contributor's known as a death benefit as well as monthly payments in the event of the CPP contributors death through survivor and children's benefits.

Old Age Security pension becomes available to the majority of Canadians when they reach the age of 65. The OAS also provides some additional benefits to low-income seniors including a Guaranteed Income Supplement and Allowance for living or widowed spouses/common-law partners of pensioners from age 60 through 64.


Since retirement planning is such a major financial decision I have compiled some key information to help you start saving for your retirement:


•Determine where you are financially by taking inventory of your income, assets and liabilities.

•Decide where the bulk of your retirement savings will come from whether it be the CPP, OAS or though private pensions and savings.

•Think about what you want your retirement to look like and set realistic goals to achieve it. Your income will need to last a long time and cover all of your living expenses.

•Start paying into an Registered Retirement Savings Plan. By investing what you can now and remaining consistent your RRSP can accumulate significantly over time.

•Begin applying for your government pensions at least six months priorretiremnet to retiring.

•If you're feeling overwhelmed consider speaking with a financial advisor.



t the Marine Mammal Museums




Did You Know?

Do you know about the Canada Pension Plan Child Rearing Dropout Provision? If you have children born after 1958 this provision may help you receive a higher CPP benefit amount. The provision applies to you (or your spouse) who left or reduced your involvement in the paid workforce to care for your children. Access information online at www.servicecanada.gc.ca, or call 1 800 277-9914.
Retire in the Southern Gulf Islands
Retirement is synonymous with relocating to a warmer climate, and it just happens to be that Canadians don't have to go very far to enjoy one. A move to British Columbia's friendly Southern Gulf Islands will let you enjoy a milder version of all four seasons. With an eight month frost-free season the Southern Gulf Islands are host to the warmest weather in Canada. The only decision lies in which island you choose to call home. Each island is unique but you will find the common thread to be the many resident artists who are inspired by the beauty and energy of this special part of the world.
 
Salt Spring Island - Often visited by travelers this island's mellow pace draws people from all pursuits. Located on Salt Spring, Ganges, the largest town on the islands offers an array of shops to please all tastes.

Saturna Island - The southern-most and least populated island, Saturna offers seclusion and privacy. If it's a rural lifestyle that you seek consider this island.


Pender Islands - A popular holiday destination, the Penders offer many beaches and coves to explore, along with a thriving community and all the comforts and attractions you need to make your visit enjoyable.

Galiano Island
- Galiano Island, closest to the mainland of British Columbia, boasts the reputation of being very welcoming to visitors. This is also where you will find the Montague Harbour Provincial Marine Park. 

Gabriola Island
- A common destination for travelers being easily accessed from Nanaimo, Gabriola Island offers quiet beaches, the Malaspina Galleries, provincial parks, and much more. 
http://www.britishcolumbia.com/regions/ti.asp?regionID=4
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Thank you for reading The Carol Budnyk Report. Subscribe for future issues and allow me to help you make some of your essential retirement decisions.
- Carol Budnyk