Reference no: EM132607489
Retirement questions from Amy
Currently 54 years of age and would like to ensure that have sufficient retirement income to last 35 years. Estimate that currently spend $6,200 per month on personal living expenses, and anticipate that these expenses will drop by 20% upon retirement. If can afford it, would like to retire immediately.
Presently have an RRSP worth $400,000, a non-registered investment account with $115,000 in it, and a TFSA worth $26,000. All money is presented as after tax, so you can ignore tax for the purpose of your calculations. have concerns about investment strategy and the rate of return earning. Lately, average rate of return is 3% per year with current investment portfolio. Would a more aggressive investment strategy be advantageous?
Which has an approximate value of $460,000 and has no mortgages against it. This house has served my family well for the last 18 years. Now live alone and, although the house is large, have no plans to move or sell at the moment, as would like to leave this to family as an inheritance.
Discussed the value of my one-third equity stake in KBL with Lawrence and David, and we agreed that share is worth $450,000. Would like to retain a 10% equity stake in the company and estimate that will receive an annual dividend of $10,000.
Question 1: Can Amy afford to retire? Are financial resources sufficient?
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