Do the math and see for yourself Age 4550556065 Service 05101520 Current Salary $80,000$100,000$120,000$140,000 and more Past Salary $80,000$100,000$120,000$140,000 and more Assumptions set by the CRA: salary increase: 5.5%, rate of return: 7.5%, payment indexing after retirement: ...
the final balance will be more than $600,000. If the 401(k) is a Roth, the full balance is available for retirement spending. If the 401(k) is a traditional one, taxes are due on the balance. Let’s say the person’s tax rate is 20% in retirement. That makes for ...