Quote:
Originally Posted by Calgary14
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
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Plus investment/pension income isn't subject to CPP and EI deductions.