How long will 1M USD last in Vancouver?
If I just move to Vancouver downtown (Canada) with 1M USD and don’t work there, how long this 1M will last. People: 2 (married couple) Major expenditures: Rent, Basic Utilities, Groceries, Eating Out, Gas etc. (feel free to include other basic expenditures) Assumption: 0% growth of 1M over the time.
assuming you put it in a checking account and withdraw... about 10 years
Yes. How much it'll be cost monthly for a living an average life.
sounds like you just want people to calculate stuff for you that you could easily look up online...
I'm sorry if you felt that way. I didn't mean that. I wanted to know it from people's experience. I have no idea about Vancouver. I know nothing about cost of living in Vancouver
its all good my guy. all im saying is u could probably find this info out easily on the google as well as anyone else here
Can probably get by withdrawing ~70k a year and live okay...problem that comes with not working is you find yourself spending more money filling your days with activities.
15 years
What's the monthly average cost of living you think?
I was living under 2k per month in Redmond last year. I moved to Bellevue downtown and now I spend 3k per month. Since you're two people and Vancouver is expensive as I have heard, it might be 6k per month at max I guess. That's 70k per year. Note: I never lived in Vancouver so I don't have data.
2 months
What kind of scenario is this? FIRE FAIL? Or murder-suicide when you run out of money? Either you or your wife have a terminal disease?
I have seen People in Canada retire on 1M saving. But their house is paid off so no rent/mortgage. Just take of 5% every year ,it will easily last 20yrs.
Doable if you spend very conservatively. Rent in downtown for 2 is going to be about 2000 CAD. Anything below is a shithole. If you can survive on 50k CAD a year (40k USD) I’d say you can retire. That means at 2k rent, 200 utilities, that would leave you at around 2000 a month for expenses.
I’m not sure what the purpose of this thought exercise is. It would be such a bad move.
What kind of life style? You can live with the homeless in downtown east side for free. Goes a long way.
Just a basic life living in an apartment in downtown