American History X

Catherine Parker;

Here is your completed Financial Plan. I would like to thank you for the opportunity of working with you to build your financial plan. We have carefully analyzed your current financial picture and have created a recommended plan to attain all your goals identified within the Your Future By Design approach we use here at RBC Financial Planning. As you will see in the document we have inputted information given to use from the documents provided and information obtained. If any of the information is out of date or other information is to bring forth please do so immediately to keep the integrity of the information constructed.

The Plan I have developed and the strategies that I am recommending will give you the security and confidence to ensure that your goals can be obtained and realized.

I would like to congratulate you both on being able to achieve your goals and have sufficient cash flow during retirement years to accomplish what is important or direct to additional savings. Again, I appreciate the trust and confidence you have placed in me by allowing me to complete this plan on your behalf. I look forward to continued partnership in making this plan come to life.

Goals

Catherine I have summarized your goals from our last appointment they are;

Have enough income to sustain your lifestyle and have available resources when you can no longer maintain yourself. This includes being able to travel.

You want to leave an inheritance to your three nieces; Sarah, Megan and Jenny.

You want to leave an inheritance or donation to charity equity to; local hospital, children?fs arts, animal shelter and medical research.

Sell the rental properties and stay in your current home.

Recommendations

Sell rental properties over the course of 3 years.

Have your assets align with your balanced investor profile.

Stay in current home

Update your Will with a Estate Lawyer

Convert your RSP to a RIF

Purchase long term care insurance

Consider purchasing Life insurance to cover estate taxes on death

Setting up a trust

Assumptions

We have assumed you live until your 95 as you have excellent health, 2.5% inflation.

Balanced investor 10% cash, 40% fixed income, 20% Canadian equity, 20% U.S. equity, and 10% international equity.