Quote:
Originally Posted by Gerbs
I think people overestimate their spending in their retirement. It's even worse when they're over 65 - 70. Mom can't do any activities aside from walk. Can't travel without sons going with her. So expensive tastes because she never ate out her whole life. Do you think $700K @ 4-5% withdrawal ($28-35K) CPP / GIS ($20K) is overkill for your mom? That's almost $48 - 55K a year with no rent costs. My mom hardly spends more than $1k/year in total costs including pptax and utilities.
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You have a very frugal mom, but I know some seniors who are at the polar opposite of the spectrum LOL~
Quote:
Originally Posted by CivicBlues
I get what you're saying though, the older I get the more "the juice is not worth the squeeze" attitude I'm feeling with everything.
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Funny how I was talking to an old buddy recently about this very same topic. Both of us used to be into sports and cars in our (much) younger days, and he was arguably the better athlete and more adventurous car person. But now he is acknowledging how he hardly has any enthusiasm for anything anymore. Financially, he is in a very comfortable position -- probably one of the most wealthy person that I have a direct friendship with, but it just doesn't seem like he is enjoying the ride all that much anymore.
Sigh...