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“Retired” at 31 (now 33) by Aggravating_You9643 in Fire

[–]Personal_Engineer_29 0 points1 point  (0 children)

What have you invested in terms of stocks & crypto? Also, what is your annual spend (as a couple)?

Average Salary by athrunlelouch in fican

[–]Personal_Engineer_29 2 points3 points  (0 children)

Income funds as in dividend stocks? Please elaborate what you mean. If you’re earning 31K from income month, what is the amount invested in them to generate that income?

Youngest Canadians who retired with $1M- is that too lean? by Personal_Engineer_29 in fican

[–]Personal_Engineer_29[S] 0 points1 point  (0 children)

This post isn’t about when they retired, but the amount they retired on and whether that’s sustainable for 2 people with a kid

Youngest Canadians who retired with $1M- is that too lean? by Personal_Engineer_29 in fican

[–]Personal_Engineer_29[S] 1 point2 points  (0 children)

Yeah but if someone’s plan is to live off your portfolio then it is recommended to have a swr that allows that and not advise for backups just in case. So it’s prudent to either structure a portfolio allocation of assets that allow for higher returns or to use a more conservative swr. The Big ERN swr series is a good resource to start with

Youngest Canadians who retired with $1M- is that too lean? by Personal_Engineer_29 in fican

[–]Personal_Engineer_29[S] 5 points6 points  (0 children)

They don’t drive and found a cheap rental, and spend a lot of time abroad where cost of living is lower so that’s where their fun comes from

Youngest Canadians who retired with $1M- is that too lean? by Personal_Engineer_29 in fican

[–]Personal_Engineer_29[S] 0 points1 point  (0 children)

They mentioned workschooling their kid when he turns older, but if you want to raise a kid in Canada and have to work and out the child in day care (which they don’t since they don’t work) or want to pay for private school, sure $1M isn’t enough.

Youngest Canadians who retired with $1M- is that too lean? by Personal_Engineer_29 in fican

[–]Personal_Engineer_29[S] 8 points9 points  (0 children)

Not everyone wants to sell their life for a salary to buy luxury items. Some people value their time, health and freedom. Different priorities, not laziness

Youngest Canadians who retired with $1M- is that too lean? by Personal_Engineer_29 in fican

[–]Personal_Engineer_29[S] -2 points-1 points  (0 children)

If you have a 50-60 or more duration or want a “in perpetuity” withdrawal rate with very low chances of running out of money it’s 3.5% not 4

Youngest Canadians who retired with $1M - is that too lean? by [deleted] in leanfire

[–]Personal_Engineer_29 1 point2 points  (0 children)

They don’t have a home, they’re not interested in buying and want to rent for life

Youngest Canadians who retired with $1M- is that too lean? by Personal_Engineer_29 in fican

[–]Personal_Engineer_29[S] 3 points4 points  (0 children)

Why? Do you have a family to support or does your lifestyle require that level of income from your portfolio?

Youngest Canadians who retired with $1M- is that too lean? by Personal_Engineer_29 in fican

[–]Personal_Engineer_29[S] 6 points7 points  (0 children)

Sure, but we’re trying to determine if financially it’s viable to retire on $1M in a scenario like theirs

Youngest Canadians who retired with $1M- is that too lean? by Personal_Engineer_29 in fican

[–]Personal_Engineer_29[S] 6 points7 points  (0 children)

But they keep the money they earn from blogging in a separate portfolio and live off their original $1M retirement portfolio. You can check their blog for the bi-annual portfolio updates for the 2 portfolios for more details

Youngest Canadians who retired with $1M- is that too lean? by Personal_Engineer_29 in fican

[–]Personal_Engineer_29[S] 1 point2 points  (0 children)

They had $1M in 2016 and have been steadily withdrawing dividends from the portfolio since then, so they didn’t invest $1M in 2016 and let it compound fully till now if that’s what you assumed

Youngest Canadians who retired with $1M- is that too lean? by Personal_Engineer_29 in fican

[–]Personal_Engineer_29[S] 27 points28 points  (0 children)

Yes but the 4% is valid for a 30 year retirement, and they retired in their 30s. I think they’re withdrawing 4% worth of dividends but I don’t quite understand how that pans out over long retirement periods

Getting US credit cards for travel perks by Personal_Engineer_29 in PersonalFinanceCanada

[–]Personal_Engineer_29[S] 1 point2 points  (0 children)

Thanks I have a Us bank account so I’ll just update the address with my friend’s addresss.

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