CLIENT SIT­U­A­TION

The Globe and Mail (Prairie Edition) - - REPORT ON BUSINESS -

The peo­ple: Bernard, 59, and Marla, 56

The prob­lem: Are they in shape to re­tire by the end of next year?

The plan: Con­sider scal­ing back the ren­o­va­tion and for­go­ing the camper van. Top up TFSAs.

The pay­off: Goals com­fort­ably

achieved.

As­sets: His cash $8,275; her cash $145,960; his TFSA $39,085; her TFSA $45,300; his RRSP $87,145; her RRSP $630,710; es­ti­mated present value of his DB pen­sion plan $425,000; res­i­dence $505,000. To­tal: $1.89-mil­lion

Monthly out­lays: Prop­erty tax $170; home in­sur­ance $115; util­i­ties $210; main­te­nance, gar­den $150; car in­sur­ance $225; fuel $500; other auto $170; gro­ceries $600; cloth­ing $125; va­ca­tion, travel $1,000; other dis­cre­tionary (gifts, char­ity) $1,000; din­ing, drinks, en­ter­tain­ment $750; per­sonal car $50; clubs, sub­scrip­tions, other $110; health care, life, dis­abil­ity in­sur­ance $240; phones, TV, in­ter­net $335; RRSPs $2,390; TFSAs $835; pen­sion plan con­tri­bu­tion $770; pro­fes­sional as­so­ci­a­tion $335. To­tal: $10,080. Sur­plus of $3,320 goes to sav­ings ac­count.

Li­a­bil­i­ties: None

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.