I am interested in trying to manage my money myself and need some advice. I will be 64 years soon and I will probably go into semi-retirement mode sometime in 2017 (3 days a week working) and then when I turn 65 years old be fully retired. I am married and my wife also has an RRSP and a spousal one as well but she prefers to have some professional handle her portfolio.
I have no debt and no company pension and am currently collecting QPP.
I have approximately $500K split in about equally between my RRSP and LIRA (and about $50 in non-RRSP and TFSA). I have mostly Fidelity Mutual funds but some other mutual funds as well in my RRSP and LIRA.
I have been trying to self-educate myself over the last few years and have been reading the MoneySense magazine and checking out this web site and the couch potato one as well.
There seems to be 3 ways to go with regards to investing that I have been reading lately (Couch Potato, Dividend Stocks and Canada/USA stocks).
I will definitely need some income from my investments in 2018 and it seems that Dividend Stocks are the way to go in order to produce income. Don't know how much income per year I will need but something like $20K+ I figure
I guess it's best at my age to be on the conservative side but I was thinking somewhere along these lines:
40% in Coach Potato (Cautious) with 55% in VAB or similiar bond fund
40% in Dividend Stocks (Bank of Montreal, CIBC, etc...)
20% in Canada/US stocks