Wednesday, February 13, 2008

Can you afford to retire?

It's RRSP season and I'm really busy so I thought I'd post on retirement planning since it is the topic that is so popular this time of year.

How much do you need to save in order to afford the lifestyle you want in retirement?
What rate of return do you need from your investments in order to make your retirement goal?
What is a comfortable retirement for you?

Here are a couple places to start if you don't know the answers to these questions:

http://finance.sympatico.msn.ca/SavingsDebt/savings_calculator.aspx
http://www.fiscalagents.com/Yahoo/calcs/retplan.shtml

3 comments:

S2 said...

Yes, because we didn't buy a house or a condo.

Alan said...

Yes, because I will retire to a place where the cost of living is less then 20% of the cost of living here.

ps: more detailed calculator
https://www.vancity.com/MyMoney/Tools/Calculators/RetirementPlanner/

retiredebtfree01 said...

The transition from full-time work into retirement is a time of promise. But it also can be a time of challenging financial decisions.

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