Teacher Terry
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Jun 17, 2014
- Messages
- 7,084
We spent much less our first year then in the past 5 years.
Yes, compared to five years ago I now:
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-Fly business class on long haul flights (still fly economy on domestic but pay for premium economy, and paying for privileges of choosing seat, priority boarding, priority security if available)
I guess CPP is a pension. I expect it to start about $620 per month in today’s dollars, in 2022...
Wow! Here in the US, people who are not eligible for SS because they do not have enough work credit can get SSI, which can be as high as $750/month. It is however based on needs, and only goes to people who show no assets. Workers who work their entire life earning low wages do not get much more than this $750 for their earned SS, and I have seen that causes some resentment.
Sorry for the interruption. We are now back to blowing more dough from this bull market.
Ah yes, more dough and less years here also. I think my net worth has increased 15% during the 3 and a half years I've been retired.
And if you put more dough and less years into any calculator it will tell you to Blow More Dough -
When I saw the OP I was thinking it was a particularly silly questions for RobbieB.
We have talked about this before, but I forgot the details. Put aside SSI (US) and OAS (Ca) which none of us here would be eligible, here's the US system for non-US citizens to compare.CPP is funded by employer and employee deductions, currently 4.95% of earnings up to $55,900. I have paid my dues.
https://www.canada.ca/en/revenue-ag...p-contribution-rates-maximums-exemptions.html
To obtain the maximum CPP benefit (currently $1114 per month) one would have to have worked at least 40 years in Canada, which I have not.
https://www.canada.ca/en/services/benefits/publicpensions/cpp/cpp-benefit/amount.html
Ah yes, more dough and less years here also. I think my net worth has increased 15% during the 3 and a half years I've been retired.
And if you put more dough and less years into any calculator it will tell you to Blow More Dough -
ok, I apologize but I have to ask, what is CPP?
I don't need to spend more, I just want to.
You made me look too. According to Quicken my stash has grown 125% in nominal terms since retirement 12/31/2002 to the close today. Heavens I really do need to do something about this! But I already have a wonderful sound system - maybe I'll really should consider those Utopias after all...You made me look.
From 5/18/2012 when I last had earned income (it's easy to look up Quicken), my stash has grown [-]25.4%[/-] 35% in nominal terms. And that's after I have spent a whole lot more than I initially thought I would.
Should I spend more? Don't think so. In just the last 5 trading sessions, the market has taken away almost what I spent YTD.
Thank you for the calculator link although I still have a lot of difficulty correlating the official inflation rate with my personal inflation rate. According to Quicken our expenditure level pretty much has remained level year to year since ER so I guess we must be doing a lot of stealth substitutions I'm not consciously aware of. Definitely Medicare has helped immensely with HC expenses but our "normal" standard of living feels pretty much the same over the years.Anyone wanting to know the real growth of their stash, https://inflationdata.com/inflation/inflation_calculators/Cumulative_Inflation_Calculator.aspx is a handy calculator. For inflation at the start of any year, select Dec of the previous year as the starting point.
OK. I understand now.
Many of us, myself included, don't need to, nor want to.
Thank you for the calculator link although I still have a lot of difficulty correlating the official inflation rate with my personal inflation rate. According to Quicken our expenditure level pretty much has remained level year to year since ER so I guess we must be doing a lot of stealth substitutions I'm not consciously aware of. Definitely Medicare has helped immensely with HC expenses but our "normal" standard of living feels pretty much the same over the years.
ok, I apologize but I have to ask, what is CPP?