It’s been a while getting everything set up with a discount brokerage and transferring the funds to be able to invest, but today was the day. I was tempted to make the trades over the phone and pay the increased costs, but with some telephone coaching I made the transactions on my own. I would really appreciate any feedback on my allocations.
For a little background, in my RRSP I had $55,000 available in cash for investing and $120,000 is in laddered GICs with a longtime financial adviser. I put the maximum in a RDSP (Registered Disability Savings Plan) prior to year-end of $200,000 which was in cash. Withdrawals of approximately $8,500 (according to regulated formula) have to start this year as I will be age 60. Currently there is $20,000 in cash but I will wait until income tax is done as I may need to withdraw some to pay possible taxes from a capital gain in 2015.
Our home and vehicle is paid for and we can meet our monthly obligations from current pension/benefit incomes. My husband (71) has just started withdrawing from a RRIF of approximately $100,000 at a rate for this year of 3.3% based on my age of 59)
So my investments to date are:
RRSP ($172,000)
Laddered GICs $117,447 ($48,500 will mature this year to invest in stocks)
Money Market $6,945
VXC $47,932
Cash $484
I won’t start withdrawing until age 71 in 12 years.
RDSP ($200,000)
Cash $89,714
VXC $10,178
VCN $99,973
Planning to invest cash to VAB/VSB next week
Vacation Home ($300,000)
Currently listed and we hope to realize approximately $300,000 that will be available for investment into the market or to purchase a condo and top up TFSAs for husband and I.
Other cash ($80,000)
I will inherit approximately $80,000 later this year and it will also be available for investing.
