Personal Finance Canada

1216 readers

1 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 2 years 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

[–] SubjectMatter 1 points 1 year ago* (last edited 1 year ago)

It makes sense. I'm interpreting this as simply using your end of year amount in savings to set your budget for the following year.

Meaning: 4% of your funds can vary year over year, so set your budget accordingly.

Side note, shouldn't you include CPP in that budget?