I am currently 54 years of age and would like to ensure that I have sufficient retirement income to last 35 years. I estimate that I currently spend $6,200 per month on personal living expenses, and I anticipate that these expenses will drop by 20% upon retirement. If I can afford it, I would like to retire immediately.

I presently have an RRSP worth $400,000, a non-registered investment account with $115,000 in it, and a TFSA worth $26,000. All money is presented as after tax, so you can ignore tax for the purpose of your calculations. I have concerns about my investment strategy and the rate of return I am earning. Lately, my average rate of return is 3% per year with my current investment portfolio. Would a more aggressive investment strategy be advantageous?

I own my home, which has an approximate value of $460,000 and has no mortgages against it. This house has served my family well for the last 18 years. I now live alone and, although the house is large, I have no plans to move or sell at the moment, as I would like to leave this to family as an inheritance.

I have discussed the value of my one-third equity stake in KBL with Lawrence and David, and we agreed that my share is worth $450,000. I would like to retain a 10% equity stake in the company and estimate that I will receive an annual dividend of $10,000.