Join Date: May 2011
Location: Edmonton, AB
Submit Photo: 0
Photo Submissions 2 Times in 2 Posts
So I'm 29. Long ways away before I can even think of the big R word, but at the age to really think seriously about saving for retirement. I have a retirement savings plan with work. The advisor came in to give us a talk about our plans (due to the drop in the market the last few months) and discuss retirement. So he basically said that to retire comfortably, he advise his clients to have at least 1 million dollars in savings. If each year of retirement, you take out 40k + governent cheques (here in Canada, we have the Canadian Pension Plan, and Old Age Security), you can be comfortable with 50k/yr, given that your house is also paid off.
To achieve 1 mil at 65, you will need to have about 125k at age 25-30.
LOL. At 25, I was 15k in debt due to student loans (which is considered little already). Now at 29, I have a mortgage and a wedding to plan. I will not achieve my 1 million at 65.
So, with that being said... at "retirement", I think I'll be living in a cardboard box with my hav. Wait... cardbox = paper product = shredding product for dog. No shelter. And if I have my grandma's genes, I'll be living in such conditions until 90+ years old. It's going to suck...
Casie and Master Roshi