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RE: Am I ready to Retire? Part Three - the role of my Tax Free Savings Account
The cost of living is high compared to the standard of living here in western Canada. I have five sources of passive income consisting of 4 Pension incomes and rental income from two properties that make my minimum base income of $48,000/year CAD. Investment and any side gig income merely adds to it as a bonus.
I am aware that there are places I could live on the cheap, and they do sound attractive. It's something i can consider when my Sons no longer need to depend on me.
Thanks for the comment @ekavieka
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Well with that income you can surely live very comfortably here. The most I can make yearly when I was still working was arounf 8K cad, which is already cosidered quite high here in my place, with the monthy minimum income is around 300 CAD.
here is the video of a young Canadian who build a villa here in my island, but I believe the land is leased, as there is a law that prevent foreigner to own a land here in my country.
But yeah, the living condition is not as great as it is in Canada or any western country, unfortunately.
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