So even retirees following an SWR method need to be vigilant about their spending rate, portfolio value and sustainability.
Eschew obfuscation. Espouse elucidation
We can not know things as they are in themselves, but only as they appear to us.
Perhaps one of the issues here is being alluded to by Pluto a couple of posts ago.
Where is the million? Is it capital gain, distribution, or what? What is the tax rate on that income?
One million dollars in dividends held in a non-registered account will spend a lot easier than having a million dollars in an rrsp.
You need to know yourself before you decide to worry about how/when to retire. Everybody is different.
If you value work/career/golf and your life is complete being near friends & family there's no point to consider SWR or even RRSP contributions. I know many of my friends would drop dead if they stopped the 40 hour grind each week and are working happily into their 70's.
Very true, again, $1 M in RRSP vs. $1 M non-reg. Sake of argument this hypothetical $1 M is 1/3 in non-reg, TFSA and RRSP. I stand by my comment that 95% of Canadians (maybe not all CMFers! would have a very good retirement with that in the bank at age 60.
Hidden Content - Working on a $1 million portfolio and $30k per year from it.
I'm really enjoying this thread. I'd love to cash out of GTA and move to somewhere lower cost. But, we have our kids here and their kids. Even though we could afford to fly business class with all the extra dough anytime we would like to, it just wouldn't be the same as being here.