Quote:
Originally Posted by Aarongavey
I find guessing at what you will spend in retirement quite difficult right now because most of our spending is on our kids. They will be out of the house in a decade though. We currently save about 13% of our gross income, not including CPP. But I would estimate that 35% of our gross income or more goes into the kids (both are in competitive sports). Don’t expect that expense to go down in the next decade but it makes it difficult to figure out what our retirement expenses would be. Kids have maxed out RESP’s and only two years left to save on one to keep getting the government money and 5 years left to save on the other.
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Are you sure? Absolutely sure?
Just kidding, but costs of housing seems to be quite an issue for many upcoming years with increasing immigration.