Quote:
Originally Posted by Bryan G
Or people could be responsible and save their own money via investments like RRSP's and Tax Free savings accounts?
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That is not enough ... I put 15K a year ( max) allowed of my income in RRSP ... But younger, I did not have the available income to do that .
I am near retirement , so at one point I will start taking out ( I am obligated by age 72 ). How long will I live . Will it last long enough if I live another 20 years, 25 years ...
I will have Provincial RRQ ( 700.00/month ) and Old Age security ( 650.00/month ) plus my pull out of RRSP .
I am fortunate in the sense that I have a few rental properties that bring me cash flow monthly, and that I will be able to sell as money is needed ; also, I have no dependants ( wife, kids, etc..) so I can spend it all.
But for ordinary hard working people, they will retire in poverty .