snoopy7548
Diamond Member
- Jan 1, 2005
- 8,126
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Have to account for costs of living going up though so that 30k of expenses 1 year is maybe 40k the next year, then 50k and so on. Though I guess if you retire late and then have that money in the bank then it might be enough to last the rest of your life time.
Thankfully healthcare here in Canada is free so don't have to worry about that... though Doug Ford here in Ontario wants to privatize it, hopefully that does not go through.
If I'm not mistaken, the 4% rule takes inflation into account, as your principal will grow with an average return of something like 5-7%.
