Quote:
Originally Posted by RichieRich
I figure $2.4M’ish should be plenty and that $4M would be extravagant.
$2.4M should throw off about $100k/yr plus CPP/OAS. that should be putting you in upper echelons of income nationally.
I figure $1M is too close to deluxe cat food level ($40k/yr plus partial CPP/OAS) provided zero debts and low cost of living for single person. Millenial Revolution and Mr Money Moustache however would argue that’s still plenty enough.
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I heard an interview of his on the radio once and as soon as he started talking about drinking Olive Oil because of it's high calories/$ value, I knew his advice wasn't for me.
The thing with keeping your health in check is, no matter how hard you work at it, you'll never be as young as you are today. (And that's OK, but that's a whole other topic for discussion.) So IMO it's about finding balance. Which is why I was in the "I wouldn't retire instantly if I won $4 million today" crowd. There are things I would spend that money on to leverage my youth that, while you can still do when you're old, are better when you're young. Like cat-skiing.