The Globe and Mail
How much should Lucy and Lance save to live comfortably and pay for care in later life? Published January 1, 2021
Galit Rodan/The Globe and Mail
Lucy and Lance have substantial savings, a mortgage-free house in the Toronto area and no children. With most of their net worth tied up in their $2-million house, and no defined-benefit pensions, they wonder how much of their savings they’ll need to live comfortably and perhaps pay for nursing home care when they are old. The rest they want to give to charity now while they are living rather than later in their wills.