Toronto Escorts

Will a million dollars be enough to retire on in 2038?

4pack

Member
Dec 12, 2008
99
5
8
I will be 65 in 2038 and cannot imagine how expensive living in Toronto will be by then. Do you think a million dollars will be enough to live on with CPP and OAS? Probably will sell the condo and just rent. Will have a meagre company pension but thankful I have a pension of some sorts. BTW I'm using the million dollar scenario as quite a few articles use this amount as a safe number to retire on. But that's still 18 years away for me and can imagine that million will be worth like 600K or less living in Toronto.
 

shack

Nitpicker Extraordinaire
Oct 2, 2001
46,713
7,990
113
Toronto
IMO, with $1M in Toronto you will have to be extremely careful. How much will rent be? $3,000-3,500/mnth? That would be about $400,000 for 10 years. Food, hydro, phone, internet, cable? Vacations? Will you have a car?

What do you have in terms of health insurance? A long term disability that might not be fully covered by OHIP? Many expensive meds are not covered.

I'd say that it is dicey.
 

kugel2

Banned
Jan 13, 2017
310
0
0
I will be 65 in 2038 and cannot imagine how expensive living in Toronto will be by then. Do you think a million dollars will be enough to live on with CPP and OAS? Probably will sell the condo and just rent. Will have a meagre company pension but thankful I have a pension of some sorts. BTW I'm using the million dollar scenario as quite a few articles use this amount as a safe number to retire on. But that's still 18 years away for me and can imagine that million will be worth like 600K or less living in Toronto.
It's not enough to retire on now, so....no.
 

Smallcock

Active member
Jun 5, 2009
13,703
21
38
Keep the condo, rent it out (it'll be paid off by then). You'll have CPP, OAS, pension, and infinite rental income until the day you die. If some expensive health issue occurs, you can pull out equity from the condo. Also, get a wife who also owns a condo so that you can live with her, split the maintenance/utility costs (will be cheaper than renting). You'll have to put up with nagging and zero sex (because she will secretly hate you), but you'll have companionship, the money situation will be great, and you can call each other names like "luv", "darling", and "honey" which is cute and kindhearted.
 

wazup

Well-known member
Jun 12, 2010
4,280
581
113
You don't spend the principal, you should live off of a dividend, that is what reits are for. I just know I'm fucked. Third world for me.
 

Smallcock

Active member
Jun 5, 2009
13,703
21
38
Iris is right. Leftists have told us that climate change will end humanity in 3 years, so don't worry about retirement. Live for today, sacrifice nothing.
 

malata

RockStar
Jan 16, 2004
3,829
172
63
Paradise by the dashboard light.
a million only just gets me a spot on the telsa craft to get me to kepler-452b, when this planet expires 2038

 

koreanjames

Active member
Oct 4, 2011
832
65
28
if you have a million now - and play your cards right for the next 20 years then yes. if you have a million for the first time in 2038 - then likely no - definitely not in toronto.
 

danmand

Well-known member
Nov 28, 2003
46,353
4,776
113
I will be able to make do with $1M in 2038. How much can maintenance of a burial plot cost?
 

glamphotographer

Well-known member
Nov 5, 2011
15,903
15,640
113
Canada
Move to the Philippines, you will live like a king with $1M. Many speak English there. Don't live in Manila but in the more expensive beach homes/mansions. I thought about retiring there and occasionally visit Thailand and Vietnam, just live life like a King. Heck even $400K can get this lifestyle. Only downside is that there are earthquakes and tsunamis but look into insurance.
 
Ashley Madison
Toronto Escorts