Quote:
Originally Posted by darklord700
For once, Slava, I agreed with you wholeheardedly. I met some dreamers who constantly talk about freedom 40 or 45. What are you going to do with the other 30-40 of your life not working?
I do not completely stay out of work as I wouldn't know what to do with my time. And retirement might actually cost me more money as I'll be constantly travelling and doing stuff. The key is to find a line of work that is tolerable and pays well.
I think of movie stars who rarely retire when I think of retirment. If I can get a well paid gig that's worth my trouble, why would I ever want to retire?
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C'mon, just because our politics are different doesn't mean I'm not good at my profession!
Quote:
Originally Posted by V
Add in about $25,000 of today's dollars for OAS and CPP, and it's not bad at all. If you have no debt obligations you should be able to retire quite comfortably on $45,000 of today's dollars.
I think the big problem we're seeing now is that none of the boomers seem to have those debt obligations taken care of, so retirement becomes an impossibility.
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Right, as long as those programs are around and still paying that much (indexed) and in his case if he retires and lives for 20 years it all works. To me though, this is where advisors really show what they're worth; things go wrong and maybe the market corrects and you don't have as much to retire. Maybe the government can't afford to keep those programs rolling. Maybe you have tax obligations or health issues that change things dramatically. Throw in a divorce for good measure or other enormous life changes/challenges and who knows whether these scenarios work out as well as hoped?