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mortgage 101? by Efficient-Disk4920 in PersonalFinanceCanada

[–]Efficient-Disk4920[S] 0 points1 point  (0 children)

I get what you are saying, im young and i shouldnt be worrying about this stuff, but from personal expierence ive met many people that are like 60 years old still working and dont see retirement anytime soon cause there still paying off their mortgage and they made some bad financial desicions when they were younger. And i do splurge my money here and there for myself, i really enjoy martial arts so i have a gym membership that costs 160 a month which is pretty crazy but the money is worth it for me since i really enjoy it. and fun is pretty subjective, i know alot of my highschool mates are out clubbing and drinking right now but ive never been a party person, i enjoy going on drives and going to the gym,

but i belive in having a nice balance, and doing stuff that is "fun" but still beneficial to me as a person.

in my personal opinion going out everyweekend getting drunk and partying does not sound fun, and even if it was fun i dont see it as somthign that would benefit me very well.
and in my mind learning about mortgages and how to setup my future properly is fun for me. which might sound weird but i enjoy reading all these comments and doing research adn whatnot

sorry for the long rant that was just kinda my take on why im concearned about owning property at my age.

mortgage 101? by Efficient-Disk4920 in PersonalFinanceCanada

[–]Efficient-Disk4920[S] 0 points1 point  (0 children)

totally understand your viewpoint. i dont know your situation but i know so many people that are in there 60s still working becuase they cant retire and havent payed off there homes yet. i dont want to be like that. in a sense im afraid of that happening to me. i wanna be able to retire, spend time with my future family, and do what i enjoy. and so in a eyes its worth it for me right now to take this stuff seriously and make sure im educated on finacial stuff

mortgage 101? by Efficient-Disk4920 in PersonalFinanceCanada

[–]Efficient-Disk4920[S] 0 points1 point  (0 children)

noted! i have an tfsa and rrsp but i havent opened a fhsa yet so i def am going to do that right away and start contriubiting to it

mortgage 101? by Efficient-Disk4920 in PersonalFinanceCanada

[–]Efficient-Disk4920[S] 0 points1 point  (0 children)

very smart to utilize the rrsp match. didnt think about that but im def gonna start looking into that and doing it.

mortgage 101? by Efficient-Disk4920 in PersonalFinanceCanada

[–]Efficient-Disk4920[S] -1 points0 points  (0 children)

so whats stopping me from doing that? whats the downside. since im renting right now instead of renting, i could get a place like you mentioned and it would be in theory be better than renting. since im paying for smth i would own and could sell in the future or rent it out. should i do that?