Luther earns $237,000 a year as a manager in the private sector and Bethany earns $200,000 as a health care executive.Amanda Erickson/The Globe and Mail
Luther and Bethany would like to retire comfortably in five years and still leave a sizable inheritance for their two children.
He is 52 and earns $237,000 a year as a manager in the private sector. She is 49 and earns $200,000 as a health care executive. Their children, both living at home, are 17 and 19.
In the short term, their goals are to pay off their mortgage, buy two new vehicles and devise a tax-efficient investment strategy. Their retirement spending target is $105,000 a year after tax, rising with inflation.
Bethany has a defined-benefit pension plan…
