Retirement income projections

[dirtsniffer]

How much can you expect to receive for a married couple in OAS and CPP? $3-4K?

[max_boost]

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That's my point. In my earlier post I said I can see myself using $10k but also as little as $3k per month.

Minimalism and simplicity can get addicting. House to a condo. 3 cars to 1. $300 jeans to $75 jeans, $100 dress shirts to $15 t-shirts etc. Going to Flames game to watching them at home. having a gf vs hiring a hooker etc. Many ways to save. You still like/appreciate nice things but you look for the budget version.

[flipstah]

$10k/month? Well I fucked up in my 20s.

I'm done; game over; thanks for playing.

[Buster]

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Minimalism and simplicity can get addicting. House to a condo. 3 cars to 1. $300 jeans to $75 jeans, $100 dress shirts to $15 t-shirts etc. Going to Flames game to watching them at home. having a gf vs hiring a hooker etc. Many ways to save. You still like/appreciate nice things but you look for the budget version.

Meeting/marrying my wife was the single most expensive decision I've ever made.

[max_boost]

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$10k/month? Well I fucked up in my 20s.

I'm done; game over; thanks for playing.

Those players pretending in their 20s are paying for it in their 30s iykyk keep doing you flip

[holden]

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All the people saying $10k/mo realize how much they need in investments to pull that, right?

Are you talking income or expenses?

Using the 4% SWR it would be $3M in investments. Of course that doesn't include CPP, OAS, DB Pension, pulling money out of house equity, etc.

[max_boost]

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Meeting/marrying my wife was the single most expensive decision I've ever made.

Meeting/dating my last gf was the single most expensive decision I've ever made but I would do it again.

[Buster]

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Using the 4% SWR it would be $3M in investments. Of course that doesn't include CPP, OAS, DB Pension, pulling money out of house equity, etc.

4% is dead.

[ExtraSlow]

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4% is dead.

Well, you can assume 0% and adjust accordingly

[Buster]

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Well, you can assume 0% and adjust accordingly

Sure, but people seem to still use the 4% number as a baseline assumption. It was never a very good number, derived from narrow use cases, and somehow caught on - I presume due to simplicity. It's kinda funny that the FIRE movement is so keen on the 4% thing. I noticed that a bunch of my FIRE friends are now "consulting".

Ben Felx did a good review.

[Tik-Tok]

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How much can you expect to receive for a married couple in OAS and CPP? $3-4K?

Lol. Plan for zero, if they still exist at your retirement, it's gravy. At least that's what we're doing.

[max_boost]

Can only imagine how high the taxes are gonna be for everyone else if the govt still gonna be dishing out the cash for when we get old.

[flipstah]

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Those players pretending in their 20s are paying for it in their 30s iykyk keep doing you flip

lmao yup. I have some saved up but it's on a LIRA so can't touch it but at least it's growing? I'll just keep adding more to it.

Do you guys count savings account as part of the retirement income consumption? It's not tied into an investment (just savings rate) so it's not growing much.

EDIT: I also contribute and max out on employer DCPP. I mean, that should be enough for $5k/mth if you contribute starting at 30... I think?

Let's say you make $60k and I contribute 5% and employer matches it. That's like... $350-400/mth? I Marth so might have goofed that.

As others mentioned, if your biggest purchases (i.e. mortgage and car) are paid off, and assuming you have little to no debt, $5k/mth for two persons is doable.

[BavarianBeast]

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Meeting/dating my last gf was the single most expensive decision I've ever made but I would do it again.

[msommers]

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I'm sure this will turn into a cock-off pretty quickly

1 Billion and 1 cent, Bob.

[flipstah]

Can I just project to be Michele Romanow's plaything?

[SKR]

I'm either going to win the lottery or run out of money and shoot myself in the face. That's as far as I've thought about retirement.

[rx7boi]

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lmao yup. I have some saved up but it's on a LIRA so can't touch it but at least it's growing? I'll just keep adding more to it.

Do you guys count savings account as part of the retirement income consumption? It's not tied into an investment (just savings rate) so it's not growing much.

EDIT: I also contribute and max out on employer DCPP. I mean, that should be enough for $5k/mth if you contribute starting at 30... I think?

Let's say you make $60k and I contribute 5% and employer matches it. That's like... $350-400/mth? I Marth so might have goofed that.

As others mentioned, if your biggest purchases (i.e. mortgage and car) are paid off, and assuming you have little to no debt, $5k/mth for two persons is doable.

You probably know this already but don't forget the one time unlocking to transfer up to 50% of your LIRA to an RRSP.

Then you can go and buy several of those Beyond-coveted Raptors

[flipstah]

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You probably know this already but don't forget the one time unlocking to transfer up to 50% of your LIRA to an RRSP.

Then you can go and buy several of those Beyond-coveted Raptors

Hahaha not interested in any of those, thankfully! I drove an F-250 once and when I exited the truck, they thought it was an automated truck being tested in the field.

[A790]

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All the people saying $10k/mo realize how much they need in investments to pull that, right?

Are you talking income or expenses?

lol yea, pretty aware mate.

$10k/mo to me is the minimum. My retirement isn't going to be spent with me in one place existing. I'm going places and doing shit.

And my aim is to retire before I'm 45, so yea, $10k or bust.