This feels daunting as there is no recourse to go back to work if something goes wrong. ![]() Understandably, Alexis is struggling with some aspects of her transition as it is also complicated by her age gap with her husband and her husband’s disability.Īlexis faces investing decisions year by year. The biggest financial transition comes along when wealth generation peaks and working life ends. The same goes for our Financial Wellness stages. We each have $57,000 in TFSA accounts.Ī: As we move through our stages in life, we adjust our values, reinvent our priorities and develop different skills. We have been living on his disability and my government pensions. We look poor on paper right now so I have been getting Guaranteed Income Supplement (GIS). He only has $70,000 in his RRSP and will probably only get $100 per month in CPP. My husband is on a disability pension that will end when he turns 65. I also have trouble understanding the real costs of various scenarios and tax implications. I would like a simple couch potato portfolio that makes at least 4% with some stop loss so if the markets drop 10%, I can sell and get out. ![]() I seem to need some help getting back into the market. ![]() ![]() However, I have become very apprehensive about a big market correction and I have been sitting in just money market funds for some time. I moved all our investments from a broker to a self-directed online investing account. When I retired five years ago I paid for some financial education and investment advice. I am turning 71 this year and have to convert my $443,000 RRSP into a Registered Retirement Income Fund (RRIF). Q: I am writing in the hopes of getting some good financial advice on how to best invest my RRIF and also on the tax implications of drawing money out.
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