Planning advice for retirement

Preparing for life after work. RRSPs, RRIFs, TFSAs, annuities and meeting future financial and psychological needs.
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mjposner
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Planning advice for retirement

Post by mjposner »

I have calculated that if we take ss and pension at 62, we will be ahead until age 77 without factoring in gains on those funds.

If we pay $5,340.61 a month we can get our house mortgage paid off in five years. ss and pension add $2,600, plus we already pay $2,925 on average monthly (we pay biweekly).

House interest rate is 3.36.

Thoughts?
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AltaRed
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Re: Planning advice for retirement

Post by AltaRed »

There is lots of discussion on the CPP and OAS threads on this exact point. Suggest you search and read them. You have to factor in longevity for true comparisons. Or for many, the bird in the hand is better than the probability of getting hit by a truck in one's late 60s.
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gsp_
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Re: Planning advice for retirement

Post by gsp_ »

OP seems to be from south of the border and would be best served to post on our American sister site. https://www.bogleheads.org
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