# How Corinne’s Financial Discipline Led to a Comfortable Retirement
Alberta-based retiree Corinne has been enjoying her retirement for the past three years. At 69, she is focused on making sure her retirement savings last and potentially funding a retirement home until her passing. Corinne’s financial journey has been characterized by living within her means, paying down debt, and being generous with her children, providing them with an early inheritance.
## Financial Situation
Corinne’s total annual expenses amount to $43,350, excluding TFSA contributions. She receives a net income of $48,000, including CPP, OAS, pension, and RRIF payments. Her investment portfolio includes various accounts with a mix of cash, mutual funds, GICs, and common shares. Corinne has been drawing down $15,000 annually from her RRSP to meet unexpected expenses and maximize TFSA contributions.
## Expert Recommendations
Financial planner Graeme Egan commends Corinne’s financial discipline and generosity towards her children. He suggests adjusting her asset mix to a more balanced 40% equities and 60% fixed income. Egan recommends considering ETFs over retail mutual funds for lower management fees and better long-term performance. Diversifying geographically, particularly in Corinne’s TFSA, can also provide resilience to the devaluation of the Canadian dollar.
## FAQ
### 1. Is Corinne’s investment mix suitable?
Egan recommends adjusting Corinne’s asset mix to include more equity exposure and consider ETFs for lower management fees.
### 2. How can Corinne plan for future expenses like assisted living?
Corinne may need to sell her property in the future to generate income for moving into an assisted living residence.
## Conclusion
Corinne’s disciplined approach to living within her means and strategic financial planning has put her in a comfortable position during retirement. By implementing expert recommendations and staying vigilant about economic conditions, Corinne can continue to enjoy her retirement while ensuring her financial security.
If you have concerns about retirement planning, portfolio adjustments, or wealth-building, reach out to financial experts for guidance and assistance.
*(Name changed for privacy reasons)*
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