Quote:
Originally Posted by Red
I think you are being very generous here. That's 70K after tax money a year. More than majority of working Canadians bring home. And that's Canadians with mortgages, car payments, student loans and kids to raise.
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Absolutely. I inflated the actual numbers by about 30 per cent to show that even then you don’t need more than about $20k a year of savings for the first decade or so of retirement to be very comfortable, and even less after that. So you can retire very well with $300k in savings.