Mary is 67 and recently lost her husband . Her only son, Jack, has taken some time off to help her but he lives in the US and must return to his family and job soon.

She and her husband came to Canada 26 years ago when he accepted a Professor role at the local College, and she had a job working at the school . Canada became their home and they had just retired 2 years ago, and they were together for 45 years.

She would like to sell her home as it is too big for her to maintain on her own. Mary needs to weigh her options: 1) can she afford to stay in Canada and perhaps purchase a condo in a retirement community? 2) What are the implications if she moves to the US to live with her son? Mary has come to the Bank looking for a better understanding of her personal finances and her options.

Annual Income	Expenses
Retirement income comes from: RRSPs Government Pensions Husbands Registered Pension Plan (he was receiving $3,000/mo, his wife is the named beneficiary)	Groceries & drug store $250/mo Heat $400/mo Taxes $500/mo Phone, cable, intranet ($150/mo) Eating out & entertainment ($250/mo) Gifts, clothing, miscellaneous ($250/mo)

Joint Assets	Liabilities
Chequing account $1,000 Savings account $10,000 Faiths RRSP $300,000 Home $800,000 Car $25,000	A credit card with a limit of $5,000