ER for Canadians

superdave

superdave

Recycles dryer sheets
Joined
Jun 15, 2004
Messages
155
Location
Bedford, NS
Hi:

I have been lurking on the forum for some time. I live in Canada, am 45, and have been part time ERd for a while. I like being ERd in summer rather than winter here, as we still have 2 in the nest. The IT boom was good to us, so ER was within reach early. Never got too deep in the markets, so was not hurt as much as most by the crashing noises.

Anyway, it would seem that Canadian residents would have a much easier go of Er with our social safety net. I always thought the financial planning storys requiring 2-4 million in the bank to retire were a bit silly.

Any other ERd Canadians out there?
 
Welcome Superdave

We've had a few - But we have a bad habit of ribbing them - cold country, cost of living, etc, etc. Don't take it serious. So I'll - heh, heh - start. Where in Canada do you find a low cost of living?
 
Just so everyone knows I DO have limits, I was going to tell the joke about whores and hockey players, but I restrained myself. :-X
 
Thanks for holding yourself TH :)

Hey, no one has sent me this one yet, so I offer it up
to all of you.

A blonde is pulled over by a cop. The cop turns out to
be a blonde also, and she says "Let me see your license!" The blonde in the car fumbles in her purse and says, "What does it look like?" Cop says, "It's
rectangular and has your picture on it." The blonde
driver fumbles some more and finds her square
compact mirror, which she hands to the cop. Cop looks in the mirror, hands it back and says "Sorry! You can go.
I didn't know you were police." :)

John Galt
 
Ruh Roh. We're in extreme danger of going non-linear. Ayy?

GDER, for a while there i thought you might be doing your best Arthur Fonzarelli.
 
I played a lot of hockey, have never seen a mountie, but my hair did turn blonde one summer from the sun...
 
superdave, they can rib all they want, but you and I know different. We have the cheapest and best food in the world. These guys all freak about health costs, but to a Canadian.........just show your Health Card. :p We live longer, don't shoot each other, and our cities and highways are not litter lined. The beer is good. ;) I live 2 hours from Toronto or Detroit, and an hour from Port Huron MI. The standard of living of a middleclass Canadian is about equal to an American. We tax the sh*t out of the super rich, so Americans win hands down there. It gets cold and gloomy here in Southern ON in the winter :'(. Just like MI, NY, OH, IL, WI etc. That's why we flock to Florida in the winter.......just like our stateside cousins. I expect the border to disappear sometime this century.
 
My son lives in Vancouver Cut-Throat, and it doesn't sound like he'll be coming back except for visits. Mrs. Zipper and I and his brother miss him dearly. I guess it's California north for Canadians. Victoria has been known to have a snowless winter. Contrast that to Minnesota or Ontario! :eek: Climate wise it would equate with Seattle I suppose. Ever tried whitefish from Lake Huron? m-m-m-m :-*
 
Anyway, it would seem that Canadian residents would have a much easier go of Er with our social safety net. I always thought the financial planning storys requiring 2-4 million in the bank to retire were a bit silly.

Any other ERd Canadians out there?
Click to expand...

There are a few hanging around, including me. You have to give ERs some time to respond, though - it was a grand day for sailing!

Canadian ER isn't remarkably different than any other ER. Medical care paid for through the tax system keeps away one of the USian ER banes, the high cost of health insurance (or the cost of ill health if you have no insurance) but the tradeoff is slightly higher taxes.

The key, just as it is in the US, is controlling expenditures, not having an enormous portfolio.
 
As for the rest of you jokers ...

Why do Canadians associate American beer with making love in a canoe?
 
Because if you tip over then next time you'd be
wiser, Bud?

John Galt
 
As for the rest of you jokers ...

Why do Canadians associate American beer with making love in a canoe?
Click to expand...

Because it's F**king close to water!
 
Man! --- I should of keep my mouth shut --- I need to go back and reread some of those --old,old posts -- maybe the cost of living and climate in Canada isn't so bad after all. Still have fond memories of visits to greater B.C. in my younger days.
 
I was telling my wife the other day about what a poor job we do in the USA of policing our borders. I recognize it's a nearly impossible job to keep people
out if they want to come here. It would be nice if our government would send them home when they catch them. Anyway, I was thinking about the very long land borders with Mexico and Canada, and how in lots of places you can just walk across. Of course, Canada
has a big advantage as so few people would want to live there :)

John Galt
 
John -

A long time concern of mine. Mass invasion when those canadian bastards swarm across the borders.

I should probably point out at this juncture that both of my fathers parents are canadian, and not even from the good part...northern saskatchewan...apparently once they broke their feet free from the ice, they ran like hell.
 
Hi SuperDave!!!

I'm 32, hubby is 34 and, you guessed it, we live in Calgary.

We are on track to ER - net worth is approx. $700K. Hubby is American but I managed to drag him North of the border (without too much kicking and screaming) since he loves the skiing in the Rockies and Calgary's economy is rockin' these days. We both work in Oil & Gas so the money has been good.

Although we haven't pinpointed an exact ER age, we are looking at 50 at the latest. We have no debt since we paid off the mortgage two years ago but then again we don't have kids yet and I know they can be darn expensive!!!!

Gotta run but just thought I'd let you know you're not the only Canuck out there :) Gotta go out and enjoy the great weather today - it's 25C (about 82F for you yanks :D ).

Maria
 
Be careful about that "no kids" thing.

We're expecting and there wasnt a stork or cabbage leaf in sight.

Its really inexplicable, we're not even married yet, and I know this baby thing cant happen until after you're married!!!
 
Hey TH, according to my son-in-law (Lutheran
minister), you are going to hell. Just thought you'd want to know.

John Galt
 
Man thats no freakin' surprise.

Satan should be advised that I'll be kicking down the door to get in and the place aint gonna be the same...
 
Superdave, welcome. I am a Calgarian currently working as an ex-pat in Houston in the oil industry. I am 55 and can take discounted DB pension now but the current assignment is satisfactory so far and my wife loves the warmer weather for now. I'll work until the assignment ends in a year or two or until somebody pisses me off excessively at work. I feel good that we have our financial house in order so that I can be FIREd when I want to be.

We have 2 out of the nest in Calgary but still partially on the payroll. We will hopefully get out from under that next year. Spouse and I haven't yet decided where to retire - so I guess I better not retire on 30 days notice until we do! Thinking either Victoria area on year round basis, or Calgary in summer and the Gulf Coast in winter.

As another Canadian poster said, ER and retirement for Candians isn't really much different than for Americans. We have our RRSP's similar to tax defered US plans and OAS versus Social Security. And we have to worry about a safe withdrawal rate. The one thing that we don't have to worry about much is our health plans although there's always a question if the quality of health care will be there for the big wave of boomers 10 years from now.

I am slowly converting my mostly equity portfolio with about 50/50 value/growth into a more value based portfolio. I do not want to commit to bonds now at the low end of the interest curve. Best to stay short term of 30 days - 2 years max until the interest rate surge of up to 2 points happens. I currently have a lot of cash sitting in ING for that reason. :-/

As many threads in here have said, read Bernstein in particular for investment direction. I am aiming for about a 2% withdrawal rate from investments once I retire as the golden years of the 90's are behind us and I don't think we can count on more than a 4-5% return on a balanced portfolio over a 10-15 year period. :mad:
 
Hey TH, according to my son-in-law (Lutheran
minister), you are going to hell.  Just thought you'd want to know.

John Galt
Click to expand...

Yup, I think you're right John, I heard Jimmy Swaggert say the same thing on TV once :D
 
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