ICYMI: How this Alberta couple could retire at 49, just as their twins turn 18 — via financialpost PersonalFinance FamilyFinance
Family Finance asked Eliott Einarson, a financial planner who heads the Winnipeg office of Ottawa-based Exponent Investment Management Inc., to work with Charles and Emily.The couple’s issues centre on the effect of caring for their children — the two-year break Emily is taking off from work and, of course, the need to build education savings for the twins. They save $1,500 per month in Charles’s RRSP, $416 per month to their RESP, $1,000 per month into their TFSAs and $200 to general savings.
Non-registered investments presently worth $172,000 growing at $18,000 per year starting in three years when Emily has returned to work can grow to $542,140 by their age 49. That capital still generating a three per cent return after inflation would pay $23,480 to their age 90.
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