Retirement

Welcome to my retirement page.  On this page you’ll find information, stories and essays from others who achieved financial independence and retirement income security.  Read on and learn from them – how you can tailor your own retirement success story from their lessons learned.

How much do you need to retire?

I have no idea – for you 🙂

I know with a great deal of confidence with a $1 M personal portfolio (beyond our workplace pensions, beyond any Canada Pension Plan or Old Age Security government payments) as long as we have NO DEBT (!) we should be able to semi-retire in our 50s.

However, even if I have no idea about your financial goals, spending patterns, or estate plans, I can offer some guidance thanks to various online calculators and other knowledge I’ve acquired over the years. Read on.

Case Study #1 = $1 million saved

Let’s assume you have a paid off home and no debt when you retire.

Let’s also assume you have $1 million saved in various investment accounts by age 60 including your RRSP. 

Excluding government benefits in your 60s like Canada Pension Plan (CPP) and Old Age Security (OAS), you could easily spend $40,000-$50,000 per year (pre-tax) from your personal portfolio without outliving your money (age 100).

Here’s how to build a million dollar portfolio – or something very close to it!

$1 M Invested

Here is an article about our desired Crossover Point.

Case Study #2 = $750,000 saved

With $750,000 invested, by age 60, assuming no debt, you should be able to spend $40,000 per year (pre-tax) from your personal portfolio.   

You can play with this calculator here.

 

Even if you have $500,000 invested by age 60 you’re still in decent shape.  $500,000 invested will allow you to spend $30,000 per year (pre-tax) from your portfolio until age 82 with a 5% return. 

My other favourite calculator is here – Variable Percentage Withdrawal (VPW).

 

Want to read about successful investors that have been there, done that?  Of course you do!  Read on to learn from these retirement essays for your plan!

The proven path to early retirement ignoring the 4% rule

Does the 4% safe withdraw rate still make any sense?

They have $1.2 million and no pensions, can they retire?

Passive and active investing can exist in retirement harmony

Age 60, retirement on a lower income – can I do it?

They want to spend $50,000 per year in retirement. Did they save enough?

FIRE at 52, how to draw down what we’ve worked so hard for

Passive Investing Success – The Evidence is Here

Retirement worries?  Not here.  Find out why.

Save like this, retire like that – My story about early retirement in style

Can you beat the index?  Yes and Ross Grant proves it.

Ditching home ownership and becoming a millionaire instead

Retired at 32. How he did it and the lessons learned – Part 1 of 2

The sleep easy way to save and invest for retirement

Early 90s, sold the home, now what?  How to invest $600,000 to cover retirement home expenses

Should you own a mortgage in retirement?  How you can retire even with debt

How to use real estate, ETFs and dividend stocks to retire in style

 

Beneficiaries – Don’t Forget the Fine Print!

Beneficiaries for TFSAs, RRSPs, RRIFs and other key accounts