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Andrew, age 60, recently retired from his job as an assistant vice-president at a resources company. He has a generous defined benefit pension and will
Andrew, age 60, recently retired from his job as an assistant vice-president at a resources company. He has a generous defined benefit pension and will likely start his CPP pension at age 65. He also plans to consult to his old firm for the first five years of his retirement, expecting to earn about $50,000 a year. Aside from his consulting work, Andrew is looking forward to a management-free retirement with a lavish lifestyle, including luxury world travel. To further fund this retirement lifestyle, in part, he plans to convert his $300,000 non-registered mutual fund portfolio to cash and invest the proceeds in a guaranteed, income producing asset for the next 15 years. Income taxes remain a concern, especially for the next five years, as he will be in a top marginal tax bracket for those years. What investment option would most closely match Andrew's needs?
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