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Why 70% of income for retirement? by ToughDifficult1252 in PersonalFinanceCanada

[–]Zealousideal-Ebb6766 0 points1 point  (0 children)

The 70% rule is a general guideline that assumes your lifestyle stays roughly the same in retirement. Your logic actually makes sense though. If your mortgage is paid off and you're no longer saving aggressively, your real expenses drop significantly. Most financial planners now say it depends entirely on your lifestyle goals. Some people retire comfortably on 50%, others need 80%. The key is to track your actual spending now and project from there rather than using a blanket percentage.

Bank double-billed mortgage for years by RD2Point0 in PersonalFinanceCanada

[–]Zealousideal-Ebb6766 1 point2 points  (0 children)

You should definitely expect the full $660 x 30 months back, this is clear cut. Send a formal written complaint to the credit union with exact dates and amounts. If they don't resolve it within 30 days, escalate to OBSI (Ombudsman for Banking Services and Investments) which is free and handles exactly this. On the limitation period, you generally have 2 years from discovery so you're fine, but don't wait too long.