This is why I own banks.
When one person suffers from a delusion, it is called insanity.
When many people suffer from a delusion, it is called religion.
How much do you know about financial independence?
Clearly not enough… Have to buy a new roof for my house…. :mad:
This is why I own banks.
Yup. Pretty much any Canadian fund does.
it's amazing how different the US and Canadian markets are.
Fewer Vancouver, Victoria residents making RRSP contributions
http://globalnews.ca/news/1860020/fewer-vancouver-victoria-residents-making-rrsp-contributions/
In Vancouver between the years 2000 and 2012, the number of residents under the age of 45 buying RRSPs dropped 9.7 per cent. In Victoria, the number dropped 11.2 per cent. Seventy-five per cent of those younger than 45 make no RRSP contributions whatsoever.
Wow. Too many Audis and BMWs on the street, eh?
Don't treat RRSP's as a March 1 deadline - that's a recipe for failure. Set up regular contributions of even $100/month to start. You'll be surprised what 15 years can do.
That being said, a chunk of productive land, with a nice pre-fab on it ( see http://www.turkeldesign.com/products/axiom-series/axiom-2340.html) , and some money invested in decently yielding bluechips sounds like a huge win to me.
Don't buy that, with all those glass walls you'll go broke trying to heat it in the winter (glass = low R) and cool it in the summer (glass = greenhouse).
Assuming an annual market return of 7 percent, he says, a 30-year-old worker who made $30,000 a year and received a 3 percent annual raise could retire at age 70 with $927,000 in the pot by saving 10 percent of her wages every year in a passive index fund. (Such a nest egg, at the standard withdrawal rate of 4 percent, would generate an inflation-adjusted $37,000 a year more or less indefinitely.) If she put it in a typical actively managed fund, she would end up with only $561,000.
Assuming an annual market return of 7 percent, he says, a 30-year-old worker who made $30,000 a year and received a 3 percent annual raise could retire at age 70 with $927,000 in the pot by saving 10 percent of her wages every year in a passive index fund. (Such a nest egg, at the standard withdrawal rate of 4 percent, would generate an inflation-adjusted $37,000 a year more or less indefinitely.) If she put it in a typical actively managed fund, she would end up with only $561,000.
Just saw this on RBC Direct investing for new members:
Originally posted by Purecanadianhoney
I don't see how hard it would be to scrape out the head of your cock once in a while.
I just ran into this set of primer videos if you're interested.
http://www.bogleheads.org/wiki/Bogleheads%C2%AE_investment_philosophy
Wow. Too many Audis and BMWs on the street, eh?
Don't treat RRSP's as a March 1 deadline - that's a recipe for failure. Set up regular contributions of even $100/month to start. You'll be surprised what 15 years can do.
even 100$? that seams like lost of money to be going to RRSP every month.
even 100$? that seems like lots of money to be going to RRSP every month.
How much do you spend on bike parts, lift tickets and Starbucks each month?
Pay yourself first.
Or look at it another way. Start by saving 4% of your pay. Get used to that, then bump it to 5%.
Granted, Im probably older and have our cars paid off, but we're saving 30% of my pay now. I started out of Uni saving 5%.
Then go learn about exponential growth. It can surprisingly add up!
http://www.moneychimp.com/calculator/compound_interest_calculator.htm
Put away $50 a month at 4% and you'll have $7500 in ten years.
Put away $75 a month at 6% and you'll have $12,500 in ten years and $35,000 in twenty years.
Put away $0 a month and you'll have $0 in a hundred years.
Frig, I sound like a financial adviser. Give me your moneah!
Or look at it another way. Start by saving 4% of your pay. Get used to that, then bump it to 5%.
Granted, Im probably older and have our cars paid off, but we're saving 30% of pay now. I started out of Uni saving 5%.
Then go learn about exponential growth. It can surprisingly add up!
yeah im 26 i put 100$/month and 4% of my pay cheque into a RRSP, im thinking that is more then enough and i should save less and spend more on lift tickets. are you going to be-able to maintain you life style and use up most of that 30% in your retirement or are you planing to leave some money in your estate, or planing on living well past the average?
Forum jump:
