Master your Retirement Part 2

"Personal development is your springboard to personal excellence. Ongoing, continous, non-stop personal development literally assures you that there is no limit to what you can accomplish." Brian Tracy

From "Master Your Retirement" by Douglas V. Nelson

It's not your gross investment return or your gross income that matters most in retirement. The only thing that matters is the income you keep: after-tax, after-fees, and after-inflation.

Things you need to know:

- Tax return management should influence the design of your influence portfolio.

- Tax return management should influence how and when you draw income.

- Managing your tax return is about understanding the marginal tax rate levels for your province, the clawback zones and how different investment income is taxed.

- Old Age Security is one of the single largest government benefits you could receive in retirement. Your total benefits could be close to $240,000 of additional income throughout your retirement years (based on two people over 20 years).

- There are three key after tax income levels to watch out for: less than $4550, less than $8345 and greater than $8345.

- Be familiar with credits available to help you reduce tax.

Be sure to watch for my next post : Questions you need to ask regarding taxes