I would kindly ask for an advice | RRSPs and RRIFs | Discussion forum

I would appreciate if some of the impressive brain trust on this board could offer me advice about my financial situation and the best thing I can do.

I just turned 60. Divorced living as a common in law with my partner. She is employed and 12 years younger. I moved to Canada 20 years ago and was working full time till May last year. I lost my job in May 2013 and since then I am unemployed. I am not planing to look for another job, instead once my EI runs out I am going to do a light consulting job which should earn me 10-15 K a year. It is obvious that once I officially retire I won't have full CPP and OAS since I was not in Canada enough time and contributed to CPP for 19 years only. I don't spend much and my expenses are around 2,000 a month.

I have investment account and in last few years it grows on the rate of 10% even a bit more. My portfolio consist of 440,000 of non register investment and 105,000 RRSP and TFSA. I am under the impression that it should be enough to keep my lifestyle as is now and after my retirement.

My first question would be: should I top my RRSP say with 20,000 this year since my income will be only 30,000 for 2013. I can do even more since I still have a lot of room in my RRSP (TFSA I always keep to the max because I think it is smart thing to do.

Second question would be to get an advice for my overall financial situation. What would be the most beneficial plan in regards to my investments for me to maximize government benefits now and when I retire. Also does Ontario Guarantied Income supplement considers investments, even if they are not withdrawn, as income counted against receiving it.

Any comments/advice would be highly appreciated.