Life situation:
Married, I'm 48, my wife is 50.
Gross income: CA$150k/yr (me), CA$50k-100k/yr (my wife)
CAD Assets:
$304k Taxable accts
$132k RRSPs
USD Assets:
$498k 401ks
$277k Taxable accts
$104k Roth IRAs
$ 66k IRAs
All combined, investments are worth about CA$1.7M, allocated in 57% equities overall.
We also own our house, worth around CA$950k. CA$20k mortgage remains.
No other debts.
I have a defined benefit pension which, if I work to 50, would pay about CA$26k/yr at age 65. Not indexed to inflation.
CPP & OAS income - I really don't know what we will get here. I know there is a US/CAN totalization agreement that will earn credits from years of US work, but also probably reduce CPP due to SS income.
Future US Social Security income - we both have the 40 credits to qualify, and the latest statement shows:
US$20k/yr at age 67 for me.
US$10k/yr at age 67 for my wife.
Current Expenses:
CA$53k/yr today. (CA$36k/yr when the morgage is done next year.)
Expected ER Expenses: I assume we will spend a little more for the early years of retirement. Let's say CA$5k-10k/yr.
Can I retire at 50? or even now? FIRECalc.com says yes. But I don't seem to have the stomach to walk away from a good salary, as much as I would like to.
Can I do anything to protect against fluctuation in the USD/CAD exchange rate? As the markets go up and down, I find that the USD/CAD exchange rate can have as much influence on my bottom line as the investments themselves. Sometimes it works in my favor, as a down day in the stock market often gives a boost to the US Dollar.
I'm not sure if we will get Medicare not being US residents, but it would be nice as winter snowbirds to not need to buy separate health insurance when we get older.
Should I spend the money on an advisor who specializes in expats? I was scared away by the $15k fee I was quoted.
I'd appreciate anyone's thoughts on my situation.