80hr * 3 weeks / 5 week period is comparable to 48h/week in total work hours for the stereotypical office job. idk how you can retire at 45 making just that. are you expecting a considerable raise in the near future? living to 80s isn't really feasible otherwise, especially if you have a family.

This post was edited by carteblanche on Dec 30 2014 06:06pm

He's making 110k/year, and I'm assuming it will only go up.

110k/year is not that much these days, especially if you have a family, buy a house, etc. it's a comfortable living, but 20 years of work can't comfortably afford 40 years of retirement. but maybe canada is different because of free healthcare? in america, you'll spend 1k+/month on health care for a family of 4 if your company isn't covering it, and health care costs increase as you get older.

whether it goes up significantly depends on the career. pharmacists, for example, top off very quickly. someone with 5 years experience makes about the same as someone with 15 years experience.

true. Unless he has a sick pension, 110k a year for 20 years wont get you shit all

vouch this...

i used to work 4 10's back when i was 18 and first become a manager, BOY O BOY O BOY that was the BEST 18 months of work i have had.


P.S. wtf does someone do to make 110k a year @ 25 -.-'

This post was edited by Duckling on Dec 30 2014 07:03pm

Is that so?



I pay about 25$ bi weekly for healthcare, 100% coverage.
Most people make 40-50k here and retire after 25-30 years.

Already 50k in invesments, 20-25 years that could be 200k easily.
Im going to buy one or two rental properties which I could sell upon retiring they will be paid off along with my house which will also fund my retirement.

Im not worried.



Oil and gas extraction (hydraulic fracturing).
I have no post secondary (yet), plan on attending in 2016 for possibly power engineering or whatever else might be in demand that I might enjoy doing.

This post was edited by TSL on Dec 30 2014 07:09pm

Probably oil fields in Alberta. Full on retards can go up there and make bank.

Not saying TSL is retarded , but it's true. Most of those idiots waste all their money though.

Yeah its true, cocaine's a hell of a drug.

i'm making around that as a software developer. just requires a 4 year bachelors


Is that without a company contribution? in america, health insurance is only affordable if your employer helps, which is standard. as soon as you're unemployed, the rate skyrockets, especially for a family plan. coworker is a contractor (c2c) so he pays his own health insurance, which is 1500$/month for a family of 4. thats one of the main reasons many people wait until 67ish to retire.



my friend's family is in real estate. her aunt has 10 rental homes i think, so she has a really comfortable living. i'm looking into rental homes myself in the next year or two. i'm buying a modest 160k town house for myself, and the 32k down payment + 3-5k closing costs + a few thousand for furniture/enhancements would seriously rape that 50k savings, and it'll take a few years to build that back up. as soon as you have kids, your expenses shoot up dramatically.

right now, i'm looking at

800/month mortgage
200/month HOA
100/month internet + cable
100-200/month electric + gas
200/month gas for car
100/month car insurance
400/month food (not entirely sure on this one)
500-1000$/month supporting parents

that's around 2k/month for just me, and my car is paid off and i use the company phone. if i get a new car, that's another 300/month, and if you have a wife, that's another 300/month for her car. your phone bill for the family can easily run 100/month for a family. and you have to pay for clothes / entertainment / car maintenance / house maintenance / christmas gifts / pets / vacations / etc. and for each kid, your expenses increase even more. you can very quickly spend 3-4k/month. that's a comfortable living @ 100k/year, but not a whole lot of savings.

on the other hand, if your wife works and makes 100k/year, then it's much more comfortable because you'll have 9k/month coming in instead of 4500/month

300/month for a car? How much are you financing? Any new car amount would be crazy amount of interest at that repayment rate.