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Green Mountain Financial Services Inc.

GMFSI RETIREMENT INCOME STRATEGY ROADMAP

Instructions: Enter annual retirement income amounts and desired spending. The roadmap automatically calculates the estimated annual and monthly surplus or shortfall.

Green Mountain Financial Services Inc.

Retirement Income Strategy Roadmap

A coordinated approach to retirement income sources, spending needs, withdrawal sequencing, taxation, longevity and ongoing retirement reviews.

GMFSI Retirement Planning

Prepared for

Client

Approaching Retirement

Prepared by

Madhu Shukla, CFP®, EPC

Founder & Principal Advisor

Prepared date

—

1

Retirement Income Objective

Define the desired retirement lifestyle, spending needs and income stability priorities.

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Lifestyle Income

Establish a realistic annual retirement-income target supporting essential and discretionary expenses.

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Income Coordination

Coordinate government benefits, pensions, registered assets and personal savings.

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Long-Term Sustainability

Balance current income requirements with inflation, longevity and future financial flexibility.

The Retirement Income Journey

A disciplined process for moving from retirement goals and available income sources to a coordinated, monitored and sustainable income plan.

1

Define Spending Needs

Estimate essential expenses, discretionary spending and contingency needs.

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2

Identify Income Sources

Review CPP, OAS, pensions, investments and other recurring income.

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3

Measure the Gap

Calculate whether available retirement income creates a surplus or shortfall.

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4

Coordinate Withdrawals

Establish a tax-aware and flexible account-withdrawal sequence.

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5

Review & Adjust

Monitor spending, taxation, portfolio values and ongoing sustainability.

2

Retirement Spending Needs

Estimate the annual amount required to support the desired retirement lifestyle.

3

Estimated Annual Retirement Income Sources

Enter gross annual income amounts before tax unless a different basis is documented.

Income Source Primary Client Spouse / Partner Combined Annual Income Notes / Start Timing
CPP Retirement Pension $0
OAS Pension $0
Workplace / Defined-Benefit Pension $0
RRIF / LIF Withdrawals $0
TFSA Withdrawals $0
Non-Registered Investment Income $0
Employment / Business Income $0
Rental / Other Income $0

Enter annual income amounts consistently. CPP, OAS, pension and investment-income estimates should be confirmed using current statements and appropriate planning assumptions.

4

Estimated Retirement Income Gap or Surplus

The following values update automatically as spending and income amounts are entered.

Retirement Income Snapshot

Illustrative annual and monthly comparison before tax unless otherwise noted.

Desired Annual Income $60,000 $5,000 monthly
Estimated Annual Income $0 $0 monthly
Estimated Shortfall $60,000 $5,000 monthly
Income Coverage 0% Of desired annual spending
Current estimated income does not yet cover the desired retirement spending target.
5

Illustrative Income & Withdrawal Sequence

Coordinate income sources according to liquidity, taxation, minimum withdrawals and long-term objectives.

Cash & Near-Term Reserve Maintain accessible funds for regular spending and unexpected expenses.
CPP, OAS & Pensions Coordinate commencement dates and recurring pension income.
Mandatory RRIF / LIF Income Incorporate minimum and legislated withdrawals into annual cash flow.
Non-Registered Assets Consider taxable income, adjusted cost base and capital-gain implications.
Additional Registered Withdrawals Coordinate RRSP, RRIF or LIF withdrawals with current and future tax brackets.
TFSA & Flexible Reserves Use tax-free funds strategically for income smoothing and major expenditures.
6

Tax, Longevity & Survivor Considerations

Address risks that can materially affect retirement-income sustainability.

✓ Coordinate taxable withdrawals across calendar years.
✓ Review pension-income splitting opportunities where applicable.
✓ Consider OAS recovery-tax exposure and benefit timing.
✓ Review tax instalments and withholding requirements.
✓ Plan for inflation and a potentially lengthy retirement.
✓ Review healthcare and long-term-care contingencies.
✓ Assess income available to the surviving spouse or partner.
✓ Review beneficiaries, successor holders and estate objectives.
7

Implementation Timeline

Move from retirement-income analysis to implementation and ongoing monitoring.

Confirm Objectives Review lifestyle priorities, spending and retirement timing.
Verify Income Sources Confirm CPP, OAS, pensions and investment-account values.
Measure the Gap Compare estimated income with essential and discretionary spending.
Approve the Strategy Agree on benefit timing, withdrawals and investment adjustments.
Implement Income Establish withdrawals, transfers and recurring payment instructions.
Annual Review Review income, spending, taxation and portfolio sustainability.
8

Annual Retirement Income Review

Keep the strategy aligned with actual spending, taxation, benefits and market conditions.

✓ Compare actual spending with the planned retirement budget.
✓ Review CPP, OAS, pensions and other recurring income.
✓ Confirm RRIF/LIF minimums and planned withdrawals.
✓ Review investment performance and portfolio allocation.
✓ Assess tax brackets, withholding and OAS recovery tax.
✓ Update survivor, estate and healthcare considerations.
9

Today’s Meeting Outcomes

Record decisions, confirmations and follow-up items arising from the discussion.

10

Discussion Summary

Record important questions, decisions, assumptions and agreed follow-up actions.

Important: This roadmap is intended as a discussion and planning document. The automatic income-gap or surplus calculation is illustrative and is based solely on the values entered. It does not account automatically for income tax, inflation, investment returns, benefit indexing, pension adjustments, OAS recovery tax, mortality, healthcare expenses or changes in spending. It is not a guarantee of retirement-income sustainability, a tax opinion or a substitute for a comprehensive financial projection, formal product documentation, KYC information or suitability requirements.

Madhu Shukla, CFP®, EPC

Founder & Principal Advisor

Green Mountain Financial Services Inc.

PROTECT • GROW • PRESERVE

Guiding Your Financial Journey with Trust & Clarity

15-Minute Clarity Session

905-921-9962

mshukla@gmfsi.ca

gmfsi.ca

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