Quote:
Originally Posted by Locke
Remember all the things and dollar amounts you were told that you'd need in order to retire?
Well when you were told those things it was in a pre-COVID, pre-rampant inflationary and pre-high-interest environment.
So that doesnt hold anymore.
People's CPP and OAS? Same deal.
Cost of housing and food? Oh you'd better believe it.
The factors and circumstances have dramatically changed over the past ~3 years or so.
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I’m lucky in that I own a small place in London and will retire to the north of Ireland where we’ll be able to upsize and add significantly to savings to supplement my pension.
My son has gone to uni in Belfast and it is likely he’ll find employment in his field somewhere in Ireland, so hopefully we’ll be able to help him get on the property market as well.
But yeah, a lot of things need to go right between now and five years on.