Quote:
Originally Posted by GGG
200k split between two people is 100k. At 100k you pay 23k in taxes (less actually because of the age amount). If you have 4 mil between the the two of you are likely getting at least 12k in CPP. You are also still below the OAS full repayment and I assume you have a paid off house.
So you would have 166k in after tax income or 14k a month or roughly $500 per day. That’s a few ounces of caviar per day without noticing.
And that’s without depreciating principle.
Caveat being we are all talking in todays dollars
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For sure. $4MM retires in comfort at any age, imo.
But the number at 65 is a lot different than 45, because you can draw down principal and have less years of inflation, but also because you have less high spending years.
If I had no time restrictions I'd want to travel at least 3-4 months/year. That would cost a few bucks and the present value is different if its 10 years vs 40.