Quote:
Originally Posted by Mr.Coffee
I remember playing around on Sunlife's little retirement planner. I filled in some of the metrics and then got a depressing but hilarious ass kick back indicating how woefully inadequate I am. How sadly unprepared I'll be.
It is insane how much money I think I am going to need to properly retire. They may have to make suicide legal in the future for when our generation stops working and can live to 150 but run out of money when we're 80-90. #### me.
Then it told me how much I need to save and I'm looking at the average life in Calgary and wondering why I'm not making half a mill per year yet so I can actually retire.
Yes I'm exaggerating bit. Yes it's still depressing kinda. Hope my kid can pay for their education haha!
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It is depressing but what most people don't realize is how far expenses decrease upon retirement. Lower taxes, income splitting, no daily coffee, no transit costs, parking, meals out, work clothes etc. it's a lot bigger than people think. Oh and the big one for most people is no mortgage and no monthly retirement savings payments. So yes it's necessary to save but it's achievable for most people and may not be as far off as you think