Quote:
Originally Posted by RichieRich
.... back to the title of this thread... please....
I'm always curious what "enough" looks like.. both for myself and others. I've run lots of scenarios in FireCalc, both with and without inheritance. SHOULD one consider inheritance? (it might be "only" as much as $250k, but certainly not a $1MM).
Anyways, I'm working with a pretty solid idea that 2 people should be able to live well (but not "stately" or in luxury) on a combined $80k/yr pretax in Calgary, assuming no mortgage or vehicle payments. Ya'll can make whatever assumptions you want regarding Pensions/CPP/OAS value and/or timing, but that's an "all-in" number.
The Spouse asked me recently when I'd be ready for retirement... said that totally depends on ability to stick to a spending level and other risk management. I could do so now, however want slightly better than "cat-food". Would love to take a "test retirement ride" (~6mo) however in my industry that is harder to come back from (especially if it's not a sabbatical with return to same role).
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Personally I couldn't really imagine spending an inheritance on living expenses unless it is some kind of catastrophe. I like to think of it as something you can grow and leave behind for your next generation.