If someone gave you a $1000...

[nobbie48]

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Not to thread hijack, but now I am curious....what's the number for you guys/ gals that would get you to retire?
A million used to be the magic number, but I think that I would need to be closer to two. I still have 2 young kids, mortgage, 13 year old SUV...I would be able to keep my current lifestyle with a few splurges.

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Planning is everything. Plan to be born around 1950 so you can take advantage of Canada's golden years. Especially good if you're a white male. Buy a nice house under $100 K, CPP and OAS for you and the Mrs. pays all the bills and your RRSPs and private pensions are for fun.

Being born a few decades later will suck. Born five decades later and retirement for many will be a pipe dream.

The question is easy to answer if you know how long you will live. Simple math using pension incomes, net worth and yearly expenditures etc. Any pension guru has the software.

Kids are a problem until they're in their mid thirty's. Then you know if they're good with money or not.

If they're good with it they won't need yours and if they're not they'll just waste it so in both cases spend it on yourself.

 

[Ashtonator]

Nobbie48, sorry to hear about your cousin passing away man! But youve got the right idea, spend it in the way she would've wanted you to!!

So many interesting responses! Actually a couple of pretty sweet ideas! Smart watch is fun but i have an iphone and the only smartwatch that is designed for the IOS is the apple's watch which im not a huge fan of. The Android ones now are compatible with IOS but you lose a lot of functionalities with them!

Not surprisingly, it seems like most people here would spend it on their bikes... some on hookers in vegas lol Wish it was enough for both!

I think the best call for me is more bike stuff!

Wish there was one of the new helmets with the HUD out there already and tested. I think if they're built as promised in all the kickstaters and campaigns, they would be a really good investment in the riding life specially since on my bike, using a GPS in the handlebars is pretty useless with all the vibration and positioning.

Anyone know of any such helmets already out there for purchase?

 

[SVeezy]

I'd spend it on racer5 or FAST. I'm already doing 1-3 with racer5 and imagine I'll keep wanting to go and learning more...

This is definitely near the top of my list.

 

[TwistedKestrel]

lol they do make the best cards for now...until AMD gets their **** together (unlikely) or Intel releases something (far more likely; they hired ex Radeon/AMD guys)

Would never pay money for an Intel GPU for the simple reason that Intel has short life cycles for their products, and then once that is up they dump responsibility on to Microsoft for fixing any future bugs. They do this with absolutely everything - SATA & USB controllers, WLAN cars, their integrated GPUs... they just did this with the Spectre & Meltdown vulnerabilities. They wrote the microcode themselves (they are literally the only party that could anyway) but they dumped the patches in MS's lap and did not exercise any responsibility or initiative in distributing it themselves.

So if you buy an Intel GPU, you will *maybe* be able to use it for two years before they stop updating drivers to work with new games. Never mind whether or not they manage to release a GPU product that is actually good

 

[SVeezy]

Not to thread hijack, but now I am curious....what's the number for you guys/ gals that would get you to retire?
A million used to be the magic number, but I think that I would need to be closer to two. I still have 2 young kids, mortgage, 13 year old SUV...I would be able to keep my current lifestyle with a few splurges.

Sent from my purple G4 using Tapatalk

Unless I won >$10 million I doubt I would retire, but anything north of $500k and I would seek a job that I enjoy vs the one that provides the lifestyle that I and my family are accustomed to. If I'm going to retire I want to have enough money to travel all the time. I would go insane sitting around the house.

 

[油井緋色]

Would never pay money for an Intel GPU for the simple reason that Intel has short life cycles for their products, and then once that is up they dump responsibility on to Microsoft for fixing any future bugs. They do this with absolutely everything - SATA & USB controllers, WLAN cars, their integrated GPUs... they just did this with the Spectre & Meltdown vulnerabilities. They wrote the microcode themselves (they are literally the only party that could anyway) but they dumped the patches in MS's lap and did not exercise any responsibility or initiative in distributing it themselves.

So if you buy an Intel GPU, you will *maybe* be able to use it for two years before they stop updating drivers to work with new games. Never mind whether or not they manage to release a GPU product that is actually good

I'm not suggesting to buy an Intel GPU. Also, Intel's attitude is simply because...well...they can =( It wasn't only until recently with Ryzen that they had any competition. Intel was pretty much a monopoly for a while.

I do however want Nvidia to get some competition before they end up being jackasses like Intel. If you look at the price of a 1080 Ti versus a 7950 GX2...the difference, even with inflation, is god damn insane. And they can do this because they currently the TOP THREE fastest cards. It's god damn sad.

 

[Joe Bass]

Let me clarify that to me retirement does not mean that I will no longer work, it just means that I will no longer be at my present job. I would pursue my original dream job of working in radio. I got the perfect face for it.

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[Riceburner]

Depends on your spending lifestyle. I could probably retire with a million.

Hookers in Vegas might be fun, but only lasts one night. Helmet and tires a bit longer. lol I'm practical and no fun.

 

[油井緋色]

I've planned for retirement, but a million cash would have me out tomorrow. I've been quite blessed, (pick whichever God you prefer) , managed to keep wife #1, no mortgage, no line of credit balance, kids education is fully funded so no compelling reason to not do something different.
But my retirement won't be sitting on a dock with a beer, I have several side side hustles that will keep me plenty busy and top up the beer fund.

+1

I think a million is more than enough even if we're looking a decade forward (unless some horrible **** happens like Canada gets nuked or something)

If any of you have a million, you can rake in around $100,000/y in passive income just tracking the index (or indices if you've diversified with other markets) and balancing with bonds. My goal with my fiancee has been to hit the $2 mil mark for that reason ($200,000/y for two in passive income)

 

[nobbie48]

+1

I think a million is more than enough even if we're looking a decade forward (unless some horrible **** happens like Canada gets nuked or something)

If any of you have a million, you can rake in around $100,000/y in passive income just tracking the index (or indices if you've diversified with other markets) and balancing with bonds. My goal with my fiancee has been to hit the $2 mil mark for that reason ($200,000/y for two in passive income)

The horrible got elected down south a year or so back.

A couple that worked at decent jobs most of their lives and paid off their moderate home will get, at age 65, about $35,000 a year in CPP and OAS. That pays all the house bills with a bit left over for mac and cheese. They're are OK if they're content to sit home and watch antenna TV.

Assuming living to 85 another $10,000 to $15,000 a year could pay for new cars (One car shared and it could last the 20 years) and travel so have $200,000 to $300,000 to cover that.

At 75, 80 or 85 they can cash in the house for more coin, less work.

That's all based on modest living. Champagne tastes are different as is exotic or long term travel.

My concerns are a total f up in government. Name a government / country that isn't in chaos.

Energy and food costs are a concern.

Financial losses due to hackers should be addressed

Physical disabilities could be a setback. OHIP fixes the immediate problem but if your house doesn't have appropriate access you could be on the hook. Have a plan B.

Early retirement has several problems.

1 You live longer, therefore need more money

2 Retiring at an early age means you're healthy enough to indulge in expensive activities.

3 Pensions are cut back, less in, more out, and for longer.

 

[油井緋色]

^
The horrible being elected down south actually shot US indices that my portfolio (and my fiancee's that I manage) to shoot up nearly 30% since his election.

I'm not sure what your post is trying to point out though...care to give some clear and concise points?

Mind you, I am very young compared to most people who are involved in this sport (so this forum's audience); so I expect my experiences to be lacking in areas compared to the rest of you with years on me.

 

[nobbie48]

^
The horrible being elected down south actually shot US indices that my portfolio (and my fiancee's that I manage) to shoot up nearly 30% since his election.

I'm not sure what your post is trying to point out though...care to give some clear and concise points?

Mind you, I am very young compared to most people who are involved in this sport (so this forum's audience); so I expect my experiences to be lacking in areas compared to the rest of you with years on me.

The US is doing better but every time he opens his mouth other countries have to worry about what he's going to hit next. The whole NAFTA crap for example.

 

[LePhillou]

Kids are a problem until they're in their mid thirty's. Then you know if they're good with money or not.
.

Isn't it crazy though?

Growing up in qc city, almost everyone i know who i went to school with moved out of their parents' place at the latest during their mid twenties and that's cause they were working. Anyone older than 30 y old living at home were ridiculed.

Now the market is definitely different there so moving out is more accessible. But still... it's a totally different reality over here and something a lot of grand parents of ours didnt have to worry about.

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