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In fact, this Ontario couple can even beat their retirement goal with Family Finance's help

A couple we’ll call Chris and Crystal, both 56, live in British Columbia. They are specialists: Chris in computational mathematics and Crystal in biosciences.…

Article content In Ontario, a couple we’ll call Liam and Catherine, both 42, and their 12-year-old twins, Max and Ozzie, have built their lives around travel. Liam and Catherine were world travellers before they had children and, pre-pandemic, took the kids to theme parks, historic sites and ski resorts. Liam works for a niche player in the internet-based service industry. His pay includes commissions that have tumbled in the pandemic. Catherine is a civil servant. Combined present take-home income is $10,723 per month, though that varies with Liam’s commissions and bonus. We apologize, b...

Article content In Ontario, a civic development consultant we’ll call Harry, 62, has filled his life with good deeds, spending much time on folks who are disadvantaged. His work provides a salary of $6,500 monthly after tax. Four rentals add $3,500 after tax, pushing total monthly after-tax income to $10,000. He wants to retire at age 70. Harry and his wife, who we’ll call Miranda, 60, have four rental properties with present estimated value of $1,395,000. There are $436,000 worth of mortgages on the properties, leaving them with net equity of $959,000. The rentals provide a $52,000 combi...

Article content A couple we’ll call Maury, a building trades contractor, and Josey, a consultant, both 48, live in Ontario with a daughter we’ll call Laura, age 12. They bring home $10,540 per month and add $30 per month from the non-taxable Canada Child Benefit. That’s a total of $126,840 per year after tax. They are diligent in their financial affairs and have a total of $224,057 in RRSP and TFSA accounts, $100,000 in cash and $46,360 in the family Registered Education Savings Plan. They would like to retire in 11 years when they are both 59 with an income of $60,000 per year after ta...