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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My grandparents get by on OAS plus their very (and I mean very) modest pension from Russia. Sure they don't live extravagantly, but that 22K-27K quoted in the article is enough to have a modest lifestyle, but is hardly eating cat food. With an extra 33K/year you can do a lot. Add the fact that if you retire at 65 you likely only have 10-15 years before you really slow down. I mean are you really planning to be golfing everyday by the time you're 80?
I take issue with statements like you need 135% of your current income to retire, which is patently false and is not backed up by reality.