Quote:
Originally Posted by Tron_fdc
So what's everyone's idea of enough savings? I wonder if we should do a poll?
$250 000.00
$500 000.00
$750 000.00
$1 000 000.00
I would think that $500k savings and owning your own home would be enough. At 10% return you should be able to live on $50k a year.
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How old are you and how long you think you'll live. For my mom who's 65 yesterday, will get a bit of a pension from her job as a nurse, her CPP and the like, she's probably okay with only 250k in savings so long as health care doesn't become privatized, and Real Esate loses no more than 60% of it's current value.
If you're 45 though...have 3 kids who are 8 to 12 years of age, no pensions you can tie into for the next 15 years....that ain't gonna work.