Planning for wealth, retirement and the great beyond : After a distinguished career in finance they are fine-tuning your portfolio and thinking about retirement. they plan to retire in 10 years at the age of 65, and your plans are based on the following circumstances: their after-tax family income is $120,000 per annum, annual living expenses including mortgage repayments are currently $90,000. their salary and expenses are expected to increase in line with inflation; tht have three adult children, aged 27, 26 and 19. thu youngest daughter will complete university in three years, the others have completed education and are employed; The market value of their home is $900,000; you expect its value will only keep up with inflation. It is a three bedroom, three bathroom rancher in a desirable neighbourhood and it will not require substantial renovations for the next 30 years; The mortgage on their house (currently $120,000) will be paid off in eight years, you have no other significant debt; their youngest daughter will have a student loan of $80,000 which they expect she will be able to repay from employment once she graduates; The net value of all family non-real estate investments is $1.2 million. Of this, $650,000 is invested in an RRSP and they and their spouse have $150,000 in unused RRSP contribution. This RRSP is in their name and is a self-administered RRSP funded by their employer's defined- contribution pension plan. their employer contributes 12% of their salary to this plan, they contribute 6%; their spouse has a defined benefit plan that will pay 24/80ths of final salary (currently $35,000, rising with inflation) from age 65. their spouse will also retire in 10 years; their plans for retirement include part time charity work, an annual three week overseas holiday and purchasing a recreational property in the Gulf Islands; Both they and their spouse are in good health and expect to outlive forecasts of average mortality; they may make any reasonable assumptions necessary to complete this scenario. they are required to provide the following: Managing your investment portfolio, transitioning from peak earning years to near retirement tht need to provide a plan for the next ten years leading up to retirement. This plan will need to: Consider the minimum level of funding that they need to retire; It must also specify the level of contributions needed and the expected rates of return. In order to calculate this they will have to specify a portfolio of investments that balances risk and return. As retirement gets closer you will probably have to rebalance that portfolio; they will need to provide an annual breakdown of they retirement portfolio's estimated value, annual rate of return and risk rating for the next ten years. they don't have to specify individual stocks, bonds, savings instruments or other investments, but the class and type of investment should be specified