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Is half million cn dollars enough?

guest:

I am 35 years old and want to spend the rest of my life in Vancouver --- retire.
Here is my question: I have about $500,000. Is that enough for a retirement life? I am still single but want to get married within 5 years and maybe have one or two kids. Not a terribly material guy, but like to enjoy life a little bit -- movie, dining out once a week, etc. Planning to buy a small house, and a new car, maybe some traveling twice a year. Please tell me if half million dollars is enough. I appreciate if you can give me some detail analysis.

freeman

(#63010@0)
Last Updated: 2001-5-7
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枫下沙龙 / 谈天说地 / Is half million cn dollars enough? -guest:; 2001-5-7 {552} (#63010@0)
I am 35 years old and want to spend the rest of my life in Vancouver --- retire.
Here is my question: I have about $500,000. Is that enough for a retirement life? I am still single but want to get married within 5 years and maybe have one or two kids. Not a terribly material guy, but like to enjoy life a little bit -- movie, dining out once a week, etc. Planning to buy a small house, and a new car, maybe some traveling twice a year. Please tell me if half million dollars is enough. I appreciate if you can give me some detail analysis.

freeman

For sure not enough. -guest:; 2001-5-7 {328} (#63338@0)
200k for house, 35k for car. 10k for the tax to get the house and car. You have 255k left. If you have money market account, 6% interest rate. You get 15k$ before tax. Then pay 2k property tax per year, 1.5k car insurance, 2k gasoline, 3k water, hydro, tel.... you only have 6.5k left for food, movie and travel and kids and....

u r right! That's for sure. -pandora(pandora); 2001-5-7 (#63345@0)

i think it is -guest:guest; 2001-5-7 {354} (#63350@0)
barely enough to live a decent life. calculation by -; is surely right, but for a proper investment plan, i would think the money will not be that tight---when the 0.5mil can generate interests,why you assume the house and car are purchased by pay-off? can't he/she buy them on mortgage so the interests earned from the 0.5mil 'dixiao' some mortgage?

It is going to be hard for sure. Vanouver is very expensive to live. Assume you invest 500,000 with %10 return, each year you will only have 50k income. It should be quite tight for a family of 3. -wade(wade); 2001-5-7 (#63405@0)

cn dollars? You mean CNY or CAD? If CNY, you can buy a car and live in Vancouver for 1 year. -guest:; 2001-5-7 (#63438@0)

@San Francisco

Is half million cn dollars enough?

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