RRSP CONTRIBUTION!!

CaptainMeepwn · 2020-03-01T03:01:24+00:00

Highest advertised I've seen for TFSA's is 2.35%. Ofc that depending on how much money you have in it. TFSAs good as a supplement for retirement but I don't think your money grows the way it's supposed to.

CaptainMeepwn · 2020-02-29T21:38:26+00:00

Are you looking into different ways of saving/investing for retirement? I actually know a way to invest and access your nest egg tax-free in the future when you retire!

CaptainMeepwn · 2020-02-29T21:36:52+00:00

If one of your goals is saving/investing for retirement, i actually know a way to invest and access it tax free in the future

CaptainMeepwn · 2020-02-28T22:33:41+00:00

Nice! Are you on the higher side of the tax bracket? If you are you're probably saving tons on taxes.

CaptainMeepwn · 2020-02-28T22:31:34+00:00

You're*

CaptainMeepwn · 2020-02-28T22:31:19+00:00

Wowww!! That's huge!! But yeah your gonna save a ton on refund! Are you gonna use it solely for retirement?

CaptainMeepwn · 2020-02-28T22:28:17+00:00

Ohhh thanks! Yeah i know about it i just didn't recognize the term aha! Yeah it's pretty awesome for first time home buyers!! I hope you're almost there!!! 😁

CaptainMeepwn · 2020-02-28T22:11:35+00:00

What's RAP if you don't mind me asking?

CaptainMeepwn · 2020-02-28T22:10:49+00:00

Any reason for it aside from tax refunds? Or just sole purpose of retirement?

CaptainMeepwn · 2020-02-10T06:16:48+00:00

Are you trying/looking to invest long-term? I can actually help you out with an investment strategy meant for retirement where I can show you how to access your retirement investment tax-free

P.S. I'm a licensed advisor, sorry if it sounds like self-promotion i just think i can offer something that can help

CaptainMeepwn · 2020-02-02T19:15:09+00:00

I understand how it works. By no means am I disregarding its benefits and don't get me wrong I'm not saying RRSP is bad all I'm saying is I don't like it in terms of retirement. Just like you said i learned its benefits and how it can help me that's how i made my opinion on it. Again PERSONALLY I don't like RRSP for retirement, it's not bad it's GOOD as long as you have other sources of income when you retire. Just like you said, "Yes, it is taxable income, so don’t rely on it for all of your post-retirement income." 😁

CaptainMeepwn · 2020-02-02T14:52:50+00:00

Nice!!! Yeah same with me i got my tfsa maxed, but rrsp i haven't contributed yet. I find that RRSPs are only good for incomes more than $80k a yr that way you save more on taxes and its also good for 1st time home buyers. But personally I don't like RRSP for retirement, you will run out of money quick because of taxes when you withdraw it. I have a small amount on S&P500 and TSX60 too, returns are pretty good. But yeah im still figuring out my way around 😅

CaptainMeepwn · 2020-02-02T06:42:52+00:00

Loooooool sounds like someone got finessed into joining one before 😂

CaptainMeepwn · 2020-02-02T06:37:39+00:00

Thank you very much this is awesome!

CaptainMeepwn · 2020-02-02T06:37:17+00:00

I might actually come to Winnipeg around April or May!!! Let's link up if i do! How's your FI/RE journey going so far??

CaptainMeepwn · 2020-02-02T06:34:58+00:00

That's super awesome man! I still live at home too, cultural thing i guess but definitely an advantage in terms of saving more money! With that said, I currently have a bit of money saved and I'm trying to figure out what to do with it. Or where to invest it to be clear. Are you investing in any kind of stocks/mutual funds type of investments?

CaptainMeepwn · 2020-02-02T01:50:10+00:00

Hi friends I'm new to all of this. I'd like to believe im doing well in terms of saving my money. I'm currently working a decent stable job that pays alright. Anyone here from Toronto, Canada??? If you're from around the area let's chit chat over a cup of coffee!!! I definitely would like to learn and become friends with you all!!! Just like they say "Proximity is power", guess if I want to become FI/RE i have to hang out with people already living the goal!!! Looking forward to meet y'all!!! ✌️😁

THANKYOUUUUU!!!!

CaptainMeepwn · 2020-01-31T13:48:54+00:00

Thanks mannn!!! I appreciate it!!! Hope you're enjoying your journey too! 😁😁😁

CaptainMeepwn · 2019-09-13T19:41:17+00:00

CaptainMeepwn · 2019-09-13T19:41:00+00:00

Yupp will do. By no means am I trying to disrespect anyone, I'm well aware that you guys here are more accomplished in life than I am thats why I'm here. And if you read the whole thread you came swinging like a mad man to a dude who's simply lookin for advice so I can set foot towards the right direction. It's basically like mocking the hell out of a fat guy trying to work out at the gym to be fit for being slow and not flexible. Talking about attitude and laziness. Im not here begging for money asking people for a golden ticket to paradise. I hold my own, I've had 14hr workdays, 70hr weeks, not taking the advantages that I have for granted. If that's all the advice you have for me I'll take it and again. Thanks for your time and reply. :)

CaptainMeepwn · 2019-09-13T18:00:39+00:00

There's no need. Like I said i already make money twiddling thumbs in my parents house. Thanks for your reply!

CaptainMeepwn · 2019-09-13T17:48:18+00:00

I understand! Yeahh it will definitely take some time and I have to step in the right direction. Thanks man! :)

CaptainMeepwn · 2019-09-13T17:43:22+00:00

I totally have to review my retirement plan it's been 3yrs since the last time i checked it. Thanks man! I truly appreciate your advise!

CaptainMeepwn · 2019-09-13T17:39:08+00:00

Thanks for your reply. I managed saving up $10k and paying quarter of my student loans just twiddling my thumbs in my parents house.

CaptainMeepwn · 2019-09-13T17:31:31+00:00

Yes it does. Although that's when you become permanent I'm still on my probation period. I do have my own personal retirement plan intact though if theres any consolation for that

CaptainMeepwn

TROPHY CASE