How Are Canadians Retiring at 60 With Just $400,000?!

Could you retire in Canada at 60 with $400,000 and a paid-off home? Rick breaks down the “bridge and engine” approach, calculates his real monthly spending, and compares different CPP start ages. Then he stress-tests the plan against a market crash and shows who this strategy may not work for. Chapters: 00:00 A coworker’s $400,000 retirement 01:19 Is the $1.7 million target the right question? 02:12 The bridge and the engine 03:29 Calculating real monthly spending 04:33 What $100 a month costs in retirement 05:50 Building the five-year bridge 07:06 How CPP and OAS fit into the plan 08:46 Starting CPP at 60, 65, or 70 11:16 The $395,000 retirement plan 12:44 Stress-testing the plan with a market crash 14:05 Who this plan may not work for 16:05 The Guaranteed Income Supplement safety net 16:35 Test your retirement budget before you quit 17:36 Dennis’s first day of retirement 18:02 How the $400,000 plan works 18:27 The limits of the plan and your own numbers 18:47 What would you spend each month? ⚠️ Disclaimer: The figures and characters in this video are illustrative. This video is for educational purposes only and is not financial advice. #RetirementPlanning #CanadaFinance #CPP