Calm Money Coach
Can You Retire in Canada on $500,000?
4:06
Can a couple retire in Canada on $500,000? If they spend $120,000 a year, no. This couple spends $60,000.
Both 65, $500,000 saved, and CPP and OAS pay them $40,000 a year. So their savings only have to find $20,000 a year until 98.
I ran their retirement 20,000 times two ways. Spend a flat $60,000 no matter what, and the money runs out before 98 in about 3 of 10 runs. Follow one rule, checked…