# Looking for advise financial plan



## bootsie (Aug 30, 2010)

Looking for some advice

Background
• I'm married and my wife and I are 45 & 40 yrs old. 
• 2 kids - 15 & 10

Incomes
• 82,000 & 92,000 
• Both have seniority and reached top of pay grade
• predict cut or no growth in salaries due to fiscal climate over next 3 years

Assets
• House: $500k - Mid-Toronto - payed off after 9 years 

• TFSA accounts: 20K - in cash - account maxed out
• RESP Accounts: 52K maxed out
• Rest in RRSP/CASH accounts
• current breakdown of all liquid assets which equal $375K

- cash 38%
- equity 42%
- Bonds 21%

Liabilities

- None - Mortgage payed off after 9 years - lived frugally

Car 
- lease 350/month - i know its cheaper to own but i dont mind doing this 

Investment style
• got burnt in tech bubble and in 2008 am very cautious
NOW
• capital preservation 
• dividend play 
• big name companies 
• Bonds - short term & ETFs dont have lotsa time to analyze
• some companies - TRP - EMA - XDV - XFN - XSB - CLF - AAPL - BRKB - FRO
Best performers -- AAPL (300%) LULU (75%) and EMA (50%) 
- worst performers - i bail after 8 -10% loss these days - 
- under-utilization of cash - it sits in low bearing accounts

Goals

• find financial advisor 
• potential investment in rental property or condo
• organize portfolio - to maximize return and ensure capital preservation
• continue to live frugally
• after all bills are paid I am saving 40 to 50K a year not sure how to deploy
• current plan is to Retire at 58 and 59 with 60% of income from Defined Benefit 
• Children's education + pass on some financial stability (but not spoil them)
• when retire Vacation in Europe and the South a couple of times a year


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## the-royal-mail (Dec 11, 2009)

Gosh.

*Well done!* A1. A real success story!


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## Four Pillars (Apr 5, 2009)

You're doing well.

RESP - Make sure you watch the asset allocation of these accounts. The 15 year old will be going to school soon, so you don't want any major dips in the account.

Cash - Why so much cash?

Advisor - Why?


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## steve41 (Apr 18, 2009)

It isn't clear what the size of your non RESP&TFSA assets are (i.e. RRSP&nonreg -broken out by spouse and reg/nonreg) Is it $375K less RESP/TFSA?


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## bootsie (Aug 30, 2010)

Four Pillars said:


> You're doing well.
> 
> RESP - Make sure you watch the asset allocation of these accounts. The 15 year old will be going to school soon, so you don't want any major dips in the account.
> 
> ...


because i am lazy and dont know what to do with it, need advisor to help me?


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## bootsie (Aug 30, 2010)

steve41 said:


> It isn't clear what the size of your non RESP&TFSA assets are (i.e. RRSP&nonreg -broken out by spouse and reg/nonreg) Is it $375K less RESP/TFSA?



this is a rough breakdown... in all all my cash/tfsa/rsp/resp = the $375K


*Total cash*
ING 70K
Cheq - 7K
TFSA - 20k all cash

*Investment Accounts*
cash = 26K
Cdn cash account = 5K cash, 36k equity , 49K bond
us cash account = 6k cash, 31k equity
resp = 3k cash, 49k equity
my rsp = 2k cash, 37k equity, 9k bond
her RSP = 5k cash, 19k bond


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## the-royal-mail (Dec 11, 2009)

bootsie said:


> because i am lazy and dont know what to do with it, need advisor to help me?


Based on what I've read above, you would not have reached this stage of your life if you were lazy. 

Financial advisers collect fees either by directly charging for their services (the consensus I'm sensing around here is this is the better option) or by recommending high-fee products and services that make money for their employer (usually the bank).

Personally, I think you should stick around CMF, read the threads, ask questions and in time you will have your answers. _Without having to give away a significant chunk of your wealth in fees._


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## steve41 (Apr 18, 2009)

I whipped this off in a hurry, so check the totals. I don't get excited about breaking out investment details.... I simply sort everything into major pots.... reg, nonreg, tfsa, resp by spouse. I didn't get fancy with taxation niceties on nonreg.... I left them as fully taxable rather than stipulating a dividend and-or cap gains component. Also, I had Mr living to 100, Mrs to age 95. I arbitrarily kept investing in TFSAs for both, well past retirement.

The summary and estate stuff (combined NW over time) is on pages 12-13 on Mr-looking's pdf. The 7th column (blue) is your combined 'die-broke at 100) lifestyle... $77.3K House passes to estate, all other capital depleted at age 100.

Mrs Looking
Mr Looking


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## I'm Howard (Oct 13, 2010)

I have become a big fan of Royal Bank and their investing site.

Planning is made easy in that it will direct you to an asset allocation that will meet the goals you set.

I would never hold RE directly, but I do own several REITS and XRE.


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## bootsie (Aug 30, 2010)

steve41 said:


> I whipped this off in a hurry, so check the totals. I don't get excited about breaking out investment details.... I simply sort everything into major pots.... reg, nonreg, tfsa, resp by spouse. I didn't get fancy with taxation niceties on nonreg.... I left them as fully taxable rather than stipulating a dividend and-or cap gains component. Also, I had Mr living to 100, Mrs to age 95. I arbitrarily kept investing in TFSAs for both, well past retirement.
> 
> The summary and estate stuff (combined NW over time) is on pages 12-13 on Mr-looking's pdf. The 7th column (blue) is your combined 'die-broke at 100) lifestyle... $77.3K House passes to estate, all other capital depleted at age 100.
> 
> ...


thanks for running this i will have a look


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## K-133 (Apr 30, 2010)

I thought RESP was max'ed at $50k per child?


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