You may want to Google debt/earning statistics for Canada. You'll feel better about yourself rather quickly. Over a third of people reach retirement with almost no savings at all. Like anything else, it's relative though. If you surround yourself with financial elites, it might be easy to see yourself as inadequate. But don't fool yourself into thinking you're doing horribly, as you're not.
Feeling discouraged - saving is a grind
- Last Updated:
- Nov 21st, 2018 3:12 pm
Tags:
- SCORE+6
- Dark0rb
- Sr. Member
- Dec 12, 2009
- 828 posts
- 122 upvotes
- Nova Scotia
- Sanyo
- Deal Guru
- Feb 9, 2009
- 12381 posts
- 11307 upvotes
People need balance — you need to save but also some deprive themselves unnecessarily so they have a truck load of money at retirement.
Go enjoy a little , obviously don’t go crazy but tomorrow the doctor can tell you you have stage 4 cancer and all of this won’t mean anything ... so have balance !!
Op $550k is a boatload of money. If you put it in 5% dividend stocks (emera, bell, etc) that’s $27k a year in income... $2k a month average (and dividend income is tax advantaged) . Enjoy.
Go enjoy a little , obviously don’t go crazy but tomorrow the doctor can tell you you have stage 4 cancer and all of this won’t mean anything ... so have balance !!
Op $550k is a boatload of money. If you put it in 5% dividend stocks (emera, bell, etc) that’s $27k a year in income... $2k a month average (and dividend income is tax advantaged) . Enjoy.