Quote:
Originally Posted by bizaro86
If you define living as "not dying" that's possible. In Calgary half of that is rent, (or property tax/utilities/insurance are close if you own a place). Even counting the borderline free senior transit passes as transportation, that doesn't leave much for anything other than food and basic necessities.
But I wouldn't call that the golden years by any stretch.
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That is the point of the article. It shows the scenario of just scraping buy and then goes on to show that you
do not need any retirement savings to just scrape by. Not great living, but you are not eating cat food. Anyone that would actually read the article is probably shooting for higher. (If you are going to a financial website to read on retirement incomes, you are probably saving something.)
Having $250k-750k in retirement saving gives someone enough for a very comfortable middle-class lifestyle. Where you are in that range is the difference in the frequency and luxuriousness of your vacations, how often you eat out, what you do for entertainment, etc. A good portion of this could very well be your home.