Market & Economy News

Julia’s Investments Are Up 60 Per Cent, but Is It Enough to Let Her Squeak by in Retirement?

A woman we’ll call Julia, 51, lives in B.C. She works in a school helping special needs kids. Her income, $3,100 per month after tax plus a $100 monthly gas allowance, covers $2,763 per month of expenses including $400 for her mortgage on her $410,000 condo, $303 monthly strata fees (also known as condo fees outside of B.C.) and $100 monthly property taxes. Single, she has to manage on what is a low income in her province. Her plan — work another five years, then retire, when she will be able to travel much more than the two weeks per year that has been her custom. The question — can it work on a modest retirement income and without part-time work? Read More