OK... here's a take you may want to consider....
Your 5-6% might be a bit ambitious... In the event you may opt for a less risky investment expectation... here are the rates of return and the corresponding lifestyles which will take you (just) out to age 100. (i.e. your die-broke projection)
Assuming you are 59 and you live in Ontario, then a lifestyle (ATI) of $65K will require a 5.56% rate of return. $60K will need a 4.85% return, and $55K a 4.06% rate of return.
$55K is a pretty good spending outcome... maybe you should look at a more friendly investment rate.
The above assumes a 2% cpi and nonreg taxed at cap gains rate.
Your 5-6% might be a bit ambitious... In the event you may opt for a less risky investment expectation... here are the rates of return and the corresponding lifestyles which will take you (just) out to age 100. (i.e. your die-broke projection)
Assuming you are 59 and you live in Ontario, then a lifestyle (ATI) of $65K will require a 5.56% rate of return. $60K will need a 4.85% return, and $55K a 4.06% rate of return.
$55K is a pretty good spending outcome... maybe you should look at a more friendly investment rate.
The above assumes a 2% cpi and nonreg taxed at cap gains rate.