Quote:
Originally Posted by eyeflyer
1.7 million is a ridiculous amount. If you have no mortgage or vehicle payment and collect a pension, OAS and CPP you can live easily on 100K a year or even less.
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If you make 100,000 a year, a big chunk of your OAS gets clawed back. CPP amounts to $15,600 a year. Even with a good DB pension, pulling $85,000 a year means you made more than 125,000 a year. About the only DB pensions left are civil service, virtually no private companies offer them any more. Civil servants are necessary, but it is private business and individual taxpayers that gets to pay for all of that.