Quote:
Originally Posted by Slava
My perception is pretty skewed on this, but $40k is pretty low. It depends on your living arrangements and situation, and of course what you want to do. And god forbid anything go wrong, because there's not a lot of leeway there.
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Yeah, but with income splitting, age amount, etc that $40k is probably close to $3k/month net. If you have a reasonable place that should leave you at least $2k after shelter costs, maybe more if you defer the property taxes (as a senior) I agree its not luxurious, but lots of people in this country live on less than that. CPP/OAS are also indexed, which helps a great deal, as does prescription coverage for seniors.
My personal goals are higher, but I absolutely plan to travel extensively and drive newish vehicles.