I’d really appreciate any advice you can offer.
We invested with a Manulife advisor about 10 years ago. I am 62 and my husband will be 53 in Feb. ’10. We lost about 40% our investments. In the fall of 2008 our advisor switched us to a more conservative portfolio and on average its up about 16% since then. We did not cash out. Our current advisor took over our account several years ago.
We have a joint MRS Loan account worth $36,404.00 and is in Fidelity Balanced Managed Portfolio. As of Sept. ’09 we owe a little over $4K
We also have another joint account in the same Fidelity Balanced Portfolio worth $40,429. as of Sept. 09.
My husband has an MRS RRSP worth $69K in the same FBP.
I have a Manulife Registered Retirement Income Fund worth $13K. A portion of the RRIF was reinvested into the Fidelity Balanced Managed Portfolio.
In all, as of Sept. 17 we have about $158,734.00 with Manulife.
I have a provincial indexed pension of $1,897. net monthly along with CPP - $520. net monthly.
As I have a bridged pension, my pension will be reduced by whatever I receive from the Old Age Pension. When I die my husband Bert will receive 2/3rd of my provincial pension. I am living on borrowed time as I have already had chemo twice and have a node which is inoperable.
I have $20,915.00 of unused RRSP contributions available for 2009.
My husband would like to retire at age 60, but might consider retiring later depending on the situation at work, etc. From our conversations, I foresee him doing part-time consulting work when he retires. He currently earns about $55K a year and works for a provincial school board. He has a non-indexed pension plan. He has only $296.00 of unused RRSP contributions available for 2009. He will inherit at least $100K from his parents who are elderly.
We each have $5K in a TSFA at President’s Choice – Unfortunately, next to no interest. It was done hastily.
We’ve also got about $80K divided between 2o banks – again earning next to no interest as we stopped investing several years ago when we saw our investments heading down hill. We’ve also got about 25K in Euros, etc. BTW, our house & cars are paid off and we have no children, but would like to leave some money to nieces and nephews,
Our Manulife guy knows we have become risk averse and wants us to consider Manulife’s Income Plus plan, but based on what we’ve read so far we have reservations. I gather there are some pretty hefty MER’s & other fees. I’m wondering if we shouldn’t buy some preferred bank shares and oil/gas/mineral stocks.
Any advice would be greatly appreciated. Sorry for the long post.
We invested with a Manulife advisor about 10 years ago. I am 62 and my husband will be 53 in Feb. ’10. We lost about 40% our investments. In the fall of 2008 our advisor switched us to a more conservative portfolio and on average its up about 16% since then. We did not cash out. Our current advisor took over our account several years ago.
We have a joint MRS Loan account worth $36,404.00 and is in Fidelity Balanced Managed Portfolio. As of Sept. ’09 we owe a little over $4K
We also have another joint account in the same Fidelity Balanced Portfolio worth $40,429. as of Sept. 09.
My husband has an MRS RRSP worth $69K in the same FBP.
I have a Manulife Registered Retirement Income Fund worth $13K. A portion of the RRIF was reinvested into the Fidelity Balanced Managed Portfolio.
In all, as of Sept. 17 we have about $158,734.00 with Manulife.
I have a provincial indexed pension of $1,897. net monthly along with CPP - $520. net monthly.
As I have a bridged pension, my pension will be reduced by whatever I receive from the Old Age Pension. When I die my husband Bert will receive 2/3rd of my provincial pension. I am living on borrowed time as I have already had chemo twice and have a node which is inoperable.
I have $20,915.00 of unused RRSP contributions available for 2009.
My husband would like to retire at age 60, but might consider retiring later depending on the situation at work, etc. From our conversations, I foresee him doing part-time consulting work when he retires. He currently earns about $55K a year and works for a provincial school board. He has a non-indexed pension plan. He has only $296.00 of unused RRSP contributions available for 2009. He will inherit at least $100K from his parents who are elderly.
We each have $5K in a TSFA at President’s Choice – Unfortunately, next to no interest. It was done hastily.
We’ve also got about $80K divided between 2o banks – again earning next to no interest as we stopped investing several years ago when we saw our investments heading down hill. We’ve also got about 25K in Euros, etc. BTW, our house & cars are paid off and we have no children, but would like to leave some money to nieces and nephews,
Our Manulife guy knows we have become risk averse and wants us to consider Manulife’s Income Plus plan, but based on what we’ve read so far we have reservations. I gather there are some pretty hefty MER’s & other fees. I’m wondering if we shouldn’t buy some preferred bank shares and oil/gas/mineral stocks.
Any advice would be greatly appreciated. Sorry for the long post.