Personal Finance Canada

1211 readers

6 users here now

Come and discuss anything related to personal finance, directly or indirectly, with other Canadians!

founded 2 years ago

MODERATORS

[email protected]

Retirement saving at 35 (self.personalfinancecanada)

submitted 1 year ago by SubjectMatter to c/[email protected]

11 comments fedilink hide all child comments

I'm in a place where I've spent the last 10-12 years saving like a chipmunk before an ice age. I've been fortunate and have a decent chunk saved up. I've got another 15-20 years of work ahead of me but want to find a bit more balance between saving and living during that time.

How does one forecast retirement targets vs current value? In other words, how can you calculate when it's ok to decrease retirement savings without compromising too much?

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 2 points 1 year ago (1 children)

I like using https://walletburst.com/tools/coast-fire-calc/ as a quick barometer from how far out I am. Keep in mind that your retirement goal shouldnt just be a dollar amount, but instead a 'lifestyle' you want to be able to keep and maintain.

[–] SubjectMatter 1 points 1 year ago

Very nice, thank you. Makes sense to put a number on your lifestyle at that point. This made me rethink how well I'd done!