Christina

Hi there. Hi, guys. Thanks so much for taking my call. Sure. I love learning about how to best utilize our money and need your guys' help with something because I've been wrestling it around in my head with many different scenarios. So my husband and I want to build a modest lake home in our retirement, but I'm just cautious. I don't want to make a mistake or spend unwisely.

So just a bit of background. My husband and I have had a few hard goes in life, but now after putting our noses to the grindstone on our own, we've established financial security. We think we've been in collaboration with our financial advisor. And so our financial picture looks like this. It's a little bit different in Canada. We have RRSPs for retirement savings.

So just a bit of background. My husband and I have had a few hard goes in life, but now after putting our noses to the grindstone on our own, we've established financial security. We think we've been in collaboration with our financial advisor. And so our financial picture looks like this. It's a little bit different in Canada. We have RRSPs for retirement savings.

So just a bit of background. My husband and I have had a few hard goes in life, but now after putting our noses to the grindstone on our own, we've established financial security. We think we've been in collaboration with our financial advisor. And so our financial picture looks like this. It's a little bit different in Canada. We have RRSPs for retirement savings.

And my husband has $750,000 in his. I have $150,000 in mine. We have combined $300,000 in our tax-free savings account. We have an extra $140,000 saved up in cash. Our primary house is worth $440,000, and that is paid off. Awesome. We have an additional rental house that's worth about $400,000, but we have $150,000 worth of mortgage still on that.

And my husband has $750,000 in his. I have $150,000 in mine. We have combined $300,000 in our tax-free savings account. We have an extra $140,000 saved up in cash. Our primary house is worth $440,000, and that is paid off. Awesome. We have an additional rental house that's worth about $400,000, but we have $150,000 worth of mortgage still on that.

And my husband has $750,000 in his. I have $150,000 in mine. We have combined $300,000 in our tax-free savings account. We have an extra $140,000 saved up in cash. Our primary house is worth $440,000, and that is paid off. Awesome. We have an additional rental house that's worth about $400,000, but we have $150,000 worth of mortgage still on that.

What I alluded to earlier, I know this was a poor decision, but we were doing the best we could without any parental guidance or help. We bought Universal Life, and so we have $650 that will be a payout on our debt. And so thoughts moving forward, I just recently retired. So as well as my 150 in my RSP, I have a defined pension benefit of $3,000 a month. My husband, I'm 54.

What I alluded to earlier, I know this was a poor decision, but we were doing the best we could without any parental guidance or help. We bought Universal Life, and so we have $650 that will be a payout on our debt. And so thoughts moving forward, I just recently retired. So as well as my 150 in my RSP, I have a defined pension benefit of $3,000 a month. My husband, I'm 54.

What I alluded to earlier, I know this was a poor decision, but we were doing the best we could without any parental guidance or help. We bought Universal Life, and so we have $650 that will be a payout on our debt. And so thoughts moving forward, I just recently retired. So as well as my 150 in my RSP, I have a defined pension benefit of $3,000 a month. My husband, I'm 54.

And so I'm hoping because I've gone through some tough health issues that I could retire. And my husband is 56 and he's looking at maybe working for a couple more years. And so our financial advisor really feels strongly that, you know, we are okay to be able to, you know, have some good deaccumulation strategies in retirement and we should have kind of a nice little legacy at the end.

And so I'm hoping because I've gone through some tough health issues that I could retire. And my husband is 56 and he's looking at maybe working for a couple more years. And so our financial advisor really feels strongly that, you know, we are okay to be able to, you know, have some good deaccumulation strategies in retirement and we should have kind of a nice little legacy at the end.

And so I'm hoping because I've gone through some tough health issues that I could retire. And my husband is 56 and he's looking at maybe working for a couple more years. And so our financial advisor really feels strongly that, you know, we are okay to be able to, you know, have some good deaccumulation strategies in retirement and we should have kind of a nice little legacy at the end.

About $400,000.

About $400,000.

About $400,000.

Well, see, that's the thing. I have to figure out all the nuances about RSPs and tax-free savings, but we don't really want to tap into that. So our thoughts are that if we kept both of our homes, like the one that we've paid off, our primary home, and we can use the rental income to help boost our income in retirement, we could remortgage our rental property.

Well, see, that's the thing. I have to figure out all the nuances about RSPs and tax-free savings, but we don't really want to tap into that. So our thoughts are that if we kept both of our homes, like the one that we've paid off, our primary home, and we can use the rental income to help boost our income in retirement, we could remortgage our rental property.

Well, see, that's the thing. I have to figure out all the nuances about RSPs and tax-free savings, but we don't really want to tap into that. So our thoughts are that if we kept both of our homes, like the one that we've paid off, our primary home, and we can use the rental income to help boost our income in retirement, we could remortgage our rental property.

So that money... Can I be honest with you?