Quote:
Originally Posted by RichieRich
Exactly correct.
Hey ya'll... play with this:
https://engaging-data.com/will-money-last-retire-early/
I plugged in $2.5MM (assuming they keep some of the winnings to put towards life, sharing, etc..); $8500/yr added for OAS after age 65; assuming $zero CPP; MER of ~1% on investments. The result is easily pulling $125k/yr for 50 years... so yes most definitely there's generational wealth.
So this assumes they don't do something stupid like put money into GIC's, choose bad financial planning; chase something trendy, don't make trades too often or chase returns or nervously move money in/out/in/out/in/etc... of the markets repeatedly selling low and buying high...
Average Canadian after-tax monthly retiree income is as per following article. Was higher than I expected:
https://www.moneysense.ca/save/retir...ome-in-canada/ |
For those interested in learning more here's a great article. The MDJ website has a metric cr@p-tonne more great info:
https://milliondollarjourney.com/the...rement-age.htm