Average Canadian Household Debt for 2010 is $96,000.00
I'm curious how many folks have, or know folks that have over $200k in mortgage debt.
I know a few couples that owe over $300k. It boggles my mind.
We owe less than the average in total debt and have a $500k home... with substantial
retirement savings and cash reserves.
And are around the 40 year age bracket.
Are we in some kind of minority? I thought I was a pauper.
Although I have been described, amongst other things (dick) as having short arms and deep pockets.
My objective was to retire early 50's on $800,000 liquid assets @4% and draw $40k a year. That puts
me well in the 70's and onto CPP/OAS with capital burn at the start of $8k per year pre tax. I need to
calculate, but I could probably retire pre 50.