Sure, but that is someone at the top of the education and experience scale (I know Quebec pension arrangements a lot better than I do Ontario, so I can't get specific for Ontario). Plus taxes (we do not have the option to file jointly) - federal:
15% on the first $43,953 of taxable income, +
22% on the next $43,954 of taxable income (on the portion of taxable income over $43,953 up to $87,907), +
26% on the next $48,363 of taxable income (on the portion of taxable income over $87,907 up to $136,270), +
29% of taxable income over $136,270.
and provincial (Ontario):
5.05% on the first $40,120 of taxable income, +
9.15% on the next $40,122, +
11.16% on the next $433,848, +
13.16 % on the amount over $514,090
and HST of 13%, not to mention high electricity rates, and in Toronto, at least, high housing prices.
Could be worse, as @Nereo pointed out, Quebec income taxes are:
$41,095 or less 16%
More than $41,095 but not more than $82,190 20%
More than $82,190 but not more than $100,000 24%
More than $100,000 25.75%
and HST is 15%
Someone retiring at 53 started teaching young, and probably would not be in the high salary scale.
OP and husband are 24 and 23 - at 24 I was still in grad school, not working - so the husband's salary is at the start level;, and seems in line with what a first year CEGEP teacher would make (that is College, not high school) and COL in North Carolina has to be a lot less than in Quebec or Ontario - no hard winters and high heating costs and warm clothes are one obvious difference, federal and state taxes are another, cheap everything by Canadian standards. I couldn't believe how cheap things were in Cape Cod when I was there at Christmas, and I get the impression that would be considered a high COL area.
Maybe we should get back on topic? We have strayed pretty far.
@retiredat63 Ontario teachers can make $94,000/year and then make a pension $70,000 a year for the rest of their life starting as young as age 53.