Ask Globe Investor: I retired early at 55. I did not have an employee pension plan so I lived on my RRSP, with the plan to take out $25,000 a year for life from my savings. At 60, I started a reduced CPP at $770 a month with the plan to start my Old Age Security at 65.
I have about $550,000 left in my RRSP. I sold everything l owned and moved in with my girlfriend. I’m still removing 25,000 a year from my RRSP to live on, with the added income from the CPP.