# Have been busy going from working to retirement



## 1980z28 (Mar 4, 2010)

I have found out that my plan for Clinton victory has failed

Also when selling last house,even that house is now more value than i imagine

I have money from sale 400k that i will not needed

now what ?

at 56 where does one put extra cash

All is maxed out,even rrsp for 2017

it sucks that my planning is so bad,,,lesson is plan for the future

My question is what to do with the 400k,,kids already got there share and are willing to help dad to dispose of the the 000k,,,i guess i can use it as petty cash until i get to pension age of 65


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## Mechanic (Oct 29, 2013)

Why not just put it in dividend paying stocks or indexes, in a non-registered portfolio.


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## gibor365 (Apr 1, 2011)

> I have money from sale 400k that i will not needed
> 
> now what ?
> 
> at 56 where does one put extra cash


Have cruise around the world  and rest put into HISA in some online bank


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## 1980z28 (Mar 4, 2010)

Is there a 5 or 10 year bond or are bond not the way to go


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## sags (May 15, 2010)

My uncle was the same. All his ducks in order......nice home paid for, good pensions, car paid for, money in the bank.

He had a life time pass from the CPR, but had little interest in travel and didn't have any "wants" left to buy.

He took $1500 a month from his pensions and went out to eat every meal in the same 3 restaurants. 

That is how he "treated" himself, got himself "out and about" and tipped the waitresses he came to know well.


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## AltaRed (Jun 8, 2009)

1980z28 said:


> Is there a 5 or 10 year bond or are bond not the way to go


That contradicts your first post. You said the $400k was not needed....but not needed for what? You either incorporate it into your retirement plan's portfolio, or put it in an HISA and spend $40k or so per year on toys and travel until age 65, or dole it out over a 10 year period into your favourite charitable causes (SPCA always needs help as do battered women's shelters), or some combination. There is no such thing as 'not needed'.


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## Islenska (May 4, 2011)

1980. please contact me soonest, able to transfer your burden!

A nice sum for "pin" money, Grandma used to call it. Nothing wrong with a low, low interest bank account until some inspiration comes along.

Review your new/old bucket list, time waits for no one!


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## Eder (Feb 16, 2011)

1980z28 said:


> I have money from sale 400k that i will not needed
> 
> now what ?
> 
> My question is what to do with the 400k,



Just go sailing for a couple years till its all gone.


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## redsgomarching (Mar 6, 2016)

need more numbers tbh and more info at 400k invested at 5% (dividends) is 20 grand. represents the lowest tax rate and most likely would be negated by the tax credit.

do you have any other funds?? do you have a wife who works? depending on how much is in your rrsp (you say its maxed) and you can start collecting CPP at 60 if you want to and try to stretch to 71 to convert your rrsp.


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## AltaRed (Jun 8, 2009)

The OP is well off and retiring.... He is mainly exercising his 'new thread' finger.


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## 1980z28 (Mar 4, 2010)

I will receive the money at the close of sale in mid april

I have a new house,vehicles,tractor,wife does not work,have enough cash in bank for 4 years

Like i said poor planning ,,,i guess i can place it in a non register account for the future


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## 1980z28 (Mar 4, 2010)

..


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## 1980z28 (Mar 4, 2010)

...


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## naysmitj (Sep 16, 2014)

AltaRed said:


> The OP is well off and retiring.... He is mainly exercising his 'new thread' finger.


Looks to me like you have completely run out of ideas. Keep the money safe, something will come up and you will be really glad you have it available.


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## CalgaryPotato (Mar 7, 2015)

Is this thread supposed to be ironic or something? I think having a full RRSP, TFSA and 400K in the bank is good planning.

Nothing wrong with bragging threads, you should be proud of what you've accomplished, but it doesn't come off well, when you put it in a complaining context.


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## fstamand (Mar 24, 2015)

"Lock it up" in 100k chunks (or lower) to secure it. Find some HISA that have low MERs


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## janus10 (Nov 7, 2013)

To be fair, I imagine that there are very, very few CMF'ers that are in OP's enviable position. Having more money than you know what to do with it is a nice problem to have.

One thing that you could consider are organizations that facilitate micro loans to those trying to raise their family out of abject poverty (we do this with kiva). You won't earn any money but you could have a meaningful impact on families and even communities with your capital.


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## AltaRed (Jun 8, 2009)

I think the OP is primarily lamenting that the money has to into a taxable account, albeit the original post can be interpreted in a number of ways.


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## My Own Advisor (Sep 24, 2012)

Funny...new thread finger....

"I have money from sale 400k that i will not needed"

Nice problem to have. Personally, I would put it into a dividend paying ETF and spend the dividends as they roll in. XEI or XIU. XIU is very tax efficient.

$400k will churn out at least $1,000 per month cash for life. As you get older, spend it. You can't take it with you.

Enjoy and well done  We should all be so lucky or diligent or both.


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## marina628 (Dec 14, 2010)

It has taken me 4 years and counting to invest from the sale of our business ,been moving cash into non registered accounts and buying Canadian dividend stocks.I never once look at the cash balance and think I have too much or planned poorly .Start traveling and book the $12,000 suites on the cruise ship instead of the 'balcony room ' ,it will help ease your problem


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## james4beach (Nov 15, 2012)

My Own Advisor said:


> Nice problem to have. Personally, I would put it into a dividend paying ETF and spend the dividends as they roll in. XEI or XIU. XIU is very tax efficient.
> 
> $400k will churn out at least $1,000 per month cash for life. As you get older, spend it. You can't take it with you.


Yup. 400K in XIU will generate about $1,000 per month. This is extremely efficient in a taxable account.

For illustration, let's get even crazier and pretend you have 1M non-registered in XIU. With the combination of eligible dividends and capital gains this generates, you will pay virtually nil tax and get to keep all of the $30,000 in annual distributions.


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## redsgomarching (Mar 6, 2016)

james4beach said:


> Yup. 400K in XIU will generate about $1,000 per month. This is extremely efficient in a taxable account.
> 
> For illustration, let's get even crazier and pretend you have 1M non-registered in XIU. With the combination of eligible dividends and capital gains this generates, you will pay virtually nil tax and get to keep all of the $30,000 in annual distributions.


great situation to have. my goal by 30 is to get to 1k dividends per month at 4-5% is around 240-250k.


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## My Own Advisor (Sep 24, 2012)

james4beach said:


> Yup. 400K in XIU will generate about $1,000 per month. This is extremely efficient in a taxable account.
> 
> For illustration, let's get even crazier and pretend you have 1M non-registered in XIU. With the combination of eligible dividends and capital gains this generates, you will pay virtually nil tax and get to keep all of the $30,000 in annual distributions.


$1 M in XIU...I can dream...$30k per year cash for life


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## 1980z28 (Mar 4, 2010)

Great idea on the etf into taxable account

I do not own any etf`s maybe a good way to buy and forget(hold)


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## TomB19 (Sep 24, 2015)

I suggest using part of the $400K to buy a 1981 Z28 Camaro.

Happy retirement, Z28. I'm happy for you.


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