http://canadianmoneyforum.com/ Track your money goals online! en Sun, 19 May 2013 09:50:49 GMT vBulletin 60 http://canadianmoneyforum.com/images/misc/rss.png http://canadianmoneyforum.com/ http://canadianmoneyforum.com/showthread.php/15464-Expat-road-to-Retirement?goto=newpost Sun, 05 May 2013 11:17:13 GMT Basic Info:

Newly wed couple living abroad, I'm 36 and she is 33. We would like to retire in about 20 years. No kids yet but most likely in the next year or two so we'll have added costs later.

Assets

Passive investment portfolio of index funds: $156,000 (USD)
Emergency Cash: $14,000
Car: $15,000 (depreciates very little in this country)


Liabilities:
Credit Cards: $0.00 (pay off each month)

Total:
185,000

Monthly Income (yearly increases of 3%):
$6950

Other sources of income:
Flight allowance: $4200 (yearly)
Pension allowance: $5000 (yearly)


Monthly Expenses:
Rent: $300 (it is subsidised by our company)
Food: $500
Gas/Car: $120
Maid/Gardener: $240
Utilities: $120
Entertainment: $250
Travel: $300
Retirement contribution: $2000

Total monthly expenses: $3830


These numbers will probably change as we end up moving from country to country. Keep in mind that we do not own any property so thus, we need to not only save for retirement but also housing costs in the future.

Goal: by 2024, retire with a portfolio of 1.6 million. ]]> Money Diaries snowbeavers http://canadianmoneyforum.com/showthread.php/15464-Expat-road-to-Retirement http://canadianmoneyforum.com/showthread.php/15424-Relying-on-pension-to-retire-early?goto=newpost Sun, 28 Apr 2013 20:04:12 GMT My husband (currently 40 yrs old) can retire in 2027 with a (todays $, defined benefits) minimum $2600/m pension. It most likely will go up but that... My husband (currently 40 yrs old) can retire in 2027 with a (todays $, defined benefits) minimum $2600/m pension. It most likely will go up but that is the minimum. I too have a small pension which I can start at age 50 (I am currently 43) for $430/m until age 60, then $250/m thereafter. I have a small second pension which will give me about $200/m after age 55. Both my pensions are defined contribution.

We have about 100K in stocks, of which approximately 75% is RRSP's and 25% TFSA's - mostly canadian dividend, plus 50K in a HISA, and a house with a today value around $330K (105K mortgage).

We are hoping to retire in 2027, my husband will be 54, I will be 57, at which point I'm sure our house (value currently around $330K) will be paid off in full.

Today if our house were paid off, and our daughter was not at home, we could very comfortably live off $2K/month.

Our major problem is we're lost what we want to do when we retire, other than we want to travel. We could buy a cheap house in Ontario and live there during the summer, then travel in the winter months to warm climates, either in a travel trailer of some sort, or renting condo's or even buying a cheap condo in central or south america. The problem with that is we have no bloody clue where we want to travel, let alone buy a cheap condo.

Our second problem is, I'm fairly certain we can live comfortably off the pensions we have, maybe I'm wrong - how can I get a better idea without really having a clue what we will do (or want to do) when we retire? ]]> Money Diaries Addy http://canadianmoneyforum.com/showthread.php/15424-Relying-on-pension-to-retire-early