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In all, this means the average American retiree (or those 65 and older) is spending about $3,700 per month -- or about $44,600 per year. Using the 4% rule, that would mean a nest egg of over $1 million would be needed to finance the average lifestyle.
Most residents of retirement communities pay monthly rent for their accommodations and across Canada, monthly fees range from $1,453 to $3,204 on average. This is dependent on the size and location of the accommodations, the type of community, and the quality and number of amenities.here are a number of retirement home options out there for every budget, For example, if you're considering buying into an independent living retirement condominium in the Greater Toronto Area, a one-bedroom starts at about $240,000, while a two-bedroom suite can go for $300,000 or more.