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Thu, Oct 10th, 2013, 02:24 AM #16
- Join Date
- Sep 2011
- Location
- nowhere
- Posts
- 164
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- 236
- Trading Score
- 0 (0%)
My employer does match 50% of my RRSP contribution so I do max that out each pay check already, I contribute 6% of my paycheque and they put in an extra 3%!
I need to take the time to research taxes and see if I can figure out what I will end up paying in taxes come the end of the year since I am working two full time jobs and will definitely end up owning. I should see if I have any options to owe less.
I still haven't fully decided what to do. I am however looking at moving into a higher position at work so I can grow my income and save even more. I have some courses to take, and am aiming to be in this new role by February 2014. Wish me luck! It will be a good chance to see how I am at learning since I have to do some courses, that will tell me if I am even ready for school in the bigger picture.Last edited by Brooke_; Thu, Oct 10th, 2013 at 02:28 AM.
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Wed, Oct 16th, 2013, 12:44 AM #17
- Join Date
- Nov 2009
- Location
- ontario
- Age
- 37
- Posts
- 4,037
- Likes Received
- 380
- Trading Score
- 58 (98%)
Well this is just me, to each their own but I would work on putting a down nice downpayment on a house =) . Or more likely work little longer,go to college and then save the rest for your house. I am debating going back to school myself but i wouldn't make much even with a college degree,very tough decision.
You have your whole life ahead of you to work on saving more so i may wait on the travelling... i mean once your house is paid off (and maybe have gone to college)you will still have that extra $$ to travel and save if you really want it.
Of course rrsp is always a good option to, as mentioned Always grow it in a savings account while you aren't doing anything with it as well !https://legerweb.com/VADJC Join Leger Web And Start Earning Today =)
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Sun, Oct 20th, 2013, 10:43 AM #18
- Join Date
- Dec 2008
- Location
- Montreal
- Posts
- 411
- Likes Received
- 918
- Trading Score
- 1 (100%)
I am probably just a few years older than you but now in a different life situation.
I think my one regret is not au pairing in Switzerland when I had a chance. I now have a child and seeing Europe is out of the range of possibilities for me for a while. My Switzerland could be your Thailand. So by all means make sure you jump and go see the places you want to see.
I would recommend 1/3 in retirement accounts (maybe dividend paying stocks, ETFs or mutual funds with low MERs), 1/3 toward travel at your age, and 1/3 towards short term savings (your house or opportunity knocks situation). You should start reading about investing or retirement. Its amazing what interest can do if you start young. If you can't be bothered to read about investing and choosing accounts the ING streetwise fund is basic with a relatively low MER which you can open as an RRSP or a TFSA.
I would also consider going to schoool for a decent paying trade. If I had to do my education over again and had no career in mind I would have probably become a pipefitter, a home inspector, or a speech therapist. These are in demand professions that pay much better than mine...some of which require much less schooling.
So anyways, there is no right way to spend money. Just make sure if you are in a position of power to pay it forward and to donate to a few causes that you care about. Make a difference where you go! Good luck!
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