The person: Linda, 80
The problem: How to maintain her lifestyle without eating into the estate she hopes to leave to her children and grandchildren.
The plan: Get a better handle on her investments and be mindful of how much she can afford to spend without drawing on her savings.
The payoff: Not having to worry any more.
Monthly net income: $9,365
Assets: RRIF $398,500; TFSA $59,795; non-registered $150,555; residence $1,250,000; estimated present value of defined benefit pension plans $75,000. Total: $1,933,850
Monthly outlays: Condo fees $1,300; property tax $650; home and car insurance $260; hydro $130; car lease $450; other transportation $285; groceries $500; clothing, dry cleaning $500; line of credit $725; gifts $200; charity $270; vacation, travel $500; personal care $300; dining, entertainment $500; subscriptions $100; other personal $250; doctors, dentists $100; final payment to life insurance $585; telephone, TV, Internet $260; TFSA $460. Total: $8,325
Liabilities: Line of credit $56,000