☆ Yσɠƚԋσʂ ☆@lemmy.ml to CanadaEnglish · 11 months agoCanadians expect they need $1.7M to retire, BMO survey finds, but it's even more for millennialsca.finance.yahoo.comexternal-linkmessage-square15fedilinkarrow-up123arrow-down18
arrow-up115arrow-down1external-linkCanadians expect they need $1.7M to retire, BMO survey finds, but it's even more for millennialsca.finance.yahoo.com☆ Yσɠƚԋσʂ ☆@lemmy.ml to CanadaEnglish · 11 months agomessage-square15fedilink
minus-squarekarlhunguslinkfedilinkarrow-up2·11 months agoI’ve heard 4% rule, but for myself I use an investment firm that does monte carlo projections, with ages, spending rates, and current assets to give you a rough idea of likelihood of assets lasting till death. Ive also played with a few of the retirement calculators made by the FIRE crowd i.e. https://www.schwab.com/learn/story/beyond-4-rule-how-much-can-you-spend-retirement
I’ve heard 4% rule, but for myself I use an investment firm that does monte carlo projections, with ages, spending rates, and current assets to give you a rough idea of likelihood of assets lasting till death.
Ive also played with a few of the retirement calculators made by the FIRE crowd i.e. https://www.schwab.com/learn/story/beyond-4-rule-how-much-can-you-spend-retirement