Canadian Capitalist Logo Dark
No Result
View All Result
Sunday, January 29, 2023
  • Login
  • Register
  • Home
  • Economy
  • Investing
  • Markets
  • Real Estate
  • Retirement
  • Tax Savings
  • Trivia
  • Resources
Subscribe
Canadian Capitalist Logo Light
  • Home
  • Economy
  • Investing
  • Markets
  • Real Estate
  • Retirement
  • Tax Savings
  • Trivia
  • Resources
No Result
View All Result
Canadian Capitalist Logo Mobile
No Result
View All Result
Home Uncategorised

Fidelity’s ‘Scary’ Retirement Findings

by Ram Balakrishnan
October 24, 2007
Reading Time: 1 min read
127 6
0
what is a good dividend yield
152
SHARES
1.9k
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Jon Chevreau and Rob Carrick have weighed in on the latest Fidelity study that finds that “Canadians are on track to replace only 50% of their pre-retirement income once they retire”. Fidelity continues to insist that this is well short of the “recommended 80% level” despite the shaky assumptions in their original research and another extensive study by Malcolm Hamilton showing that the replacement level on average is closer to 50%.

I don’t have a lot to add to their comments, since we’ve talked a lot about this topic already but you might find the nifty online “Retirement Readiness Snapshot calculator” interesting. The calculator allows you to play with different assumptions and check to see if you are on track for retirement. You can ignore Fidelity’s math and just enter the income you think you’ll need in retirement. For example, I figure we’ll need $60,000 per year in today’s dollars to retire when I am 55, so I entered $75,000 as my current annual income. The calculator tells us that we’ll need about $2 million in savings (in future dollars), which works out to $1.3 million in today’s dollars if inflation is around 2%. Despite the drawbacks of the study, Fidelity’s retirement number seems to be a reasonably conservative estimate (given that CPP/QPP and OAS benefits are estimated for an individual and not for a couple).

Related posts:

  1. Finding a Financial Advisor, Part 1
  2. Carnival of Debt Reduction # 19
  3. The Income Tax Cut is Better
  4. This and That
Share61Tweet38Share11

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Previous Post

Tax Cuts in the Fiscal Update?

Next Post

This and That

Ram Balakrishnan

Ram Balakrishnan

Related Posts

Why you cant afford a house in Canada

Why You Can’t Afford A Home In Canada?

January 24, 2022
358
investing benefits
Investing

Finding a Financial Advisor, Part 1

June 19, 2021
2.1k
investing in bitcoin

Is it time to invest in Bitcoins again?

May 13, 2019
2k
when do reits liquidate
Uncategorised

Performance of Currency-Neutral S&P 500 Index Funds

January 19, 2014
2k
is mortgage interest tax deductible
Uncategorised

The 2013 Sleepy Portfolio Report Card

January 12, 2014
2k
how to buy individual stocks in canada
Uncategorised

Asset Class Returns for 2013

January 5, 2014
1.9k
Next Post
how to make passive income as a teenager

This and That

Please login to join discussion
Canadian Capitalist

© 2022 Canadian Capitalist

Navigate Site

  • Home
  • Disclaimer
  • Privacy Policy
  • Advertisement
  • Contact Us

Follow Us

No Result
View All Result
  • Home
  • Economy
  • Investing
  • Markets
  • Real Estate
  • Retirement
  • Tax Savings
  • Trivia
  • Resources

© 2022 Canadian Capitalist

Welcome Back!

Sign In with Facebook
Sign In with Google
Sign In with Linked In
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Facebook
Sign Up with Google
Sign Up with Linked In
OR

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
two man and woman standing on doorway
The man who does not read has no advantage over the man who cannot read - Mark Twain