Can a person retirer with 500 000$?

[Four Pillars]

It would not be so much fun then Marina & the mods [for the most part] are pretty tolerant here, however, people sometimes need to be a little sensitive to the question being asked.

I hear what you are saying, but the person who originally posed the question has never posted again and may or may not have read any of the response posts.

My point is that if the OP isn't going to stay involved in the thread, then staying on topic shouldn't really matter much.

[Toronto.gal]

Going off topic is pretty common here and only seems to bother some people when the views expressed don't match their own, I think.

If that comment was directed at me, you think wrong!

I appreciate and/or respect everyone's opinion & have no problem agreeing to disagree. However, that was not the point I was making, and neither was going off-topic per se. Need I really spell it out?

Even when the OP disappears, it does not mean that the topic would not be helpful to others by the way.

[Sampson]

Going off topic is pretty common here and only seems to bother some people when the views expressed don't match their own, I think.

The Leafs are the worst Canadian-based hockey team.

[CanadianCapitalist]

Maybe mods should start closing threads when questions are answered so we do not go off topic

Where is the fun in that? Seriously though, we think most members like to have free-wheeling discussions even if threads occasionally go way off base.

[Young&Ambitious]

One big kink in the whole $500k retirement fund and some of the monthly spending assumptions made is that people are assuming they won't require nursing homes or assisted care. If we could all be so lucky!! Anyone have some figures to contribute on the odds of this happening and what typical expenses are when health is less than excellent? How much would one need then? Perhaps it could be similar as it would then come out of the travel budget...

[MoneyGal]

I have tons of figures, including on the likelihood of requiring long-term care, but they're all from the U.S.

Thinking about the requirement for nursing home care is *similar to* thinking about the requirement for insuring against longevity risk. The chance of living to very old age - to, say, age 100 and up - is very small, but it is real. Do you keep a pool of money aside in the chance that you will need it, or do you transfer the risk to someone else who is willing to share it with you? (The providers of LTC insurance, that is.)

Alternately, you can take your chances with the public system.

Is this a "big kink?" It is a relatively small kink with a big impact. Here is the best paper I've seen on understanding this issue from a risk management POV: http://crr.bc.edu/briefs/what-is-the...s-from-age-65/

[Square Root]

If that comment was directed at me, you think wrong!

I appreciate and/or respect everyone's opinion & have no problem agreeing to disagree. However, that was not the point I was making, and neither was going off-topic per se. Need I really spell it out?

Even when the OP disappears, it does not mean that the topic would not be helpful to others by the way.

What do you want to say? Maybe you should spell it out ?

[Daniel A.]

OK

[Financial Cents]

Seems like if you have about $750,000 in fixed-income and preferred shares, it doesn't seem like enough:

http://www.theglobeandmail.com/globe...rticle4382171/

[baker3232]

Original question was is $500000 enough to retire on? Yes, plenty if you spend according to your income. I semi-retired as of last September with a bit over $1000 a month defined benefit pension, another $1000 monthly from investment income, another $1000 monthly from 2 part - time jobs, another $500 monthly from a hobby, more than enough for my wife and I. House paid for, car (Infiniti) paid in cash, no debt, investments of over $250000, not to be touched til 65 or older (57 now) won't draw Canada pension till needed, and old age for my wife and I at 65. I have no intention of stopping part time work in the forseeable future, but I could if I wished, and of the income listed above, 30 to 40% is saved and invested monthly. We do live fairly frugally, except for my cars, but for us no new investments are really needed in the future. Hopefully.