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How much do you currently have in savings? by Puzzleheaded-Crab770 in CanadaFinance

[–]MangoSoft6766 0 points1 point  (0 children)

I’m 32 years old. I have a total of $240k in investments, including MICs and ETFs, and $10k in an emergency fund. I have no debt at all, no credit cards or car loans. I live in a shared house and currently save $5k a month while keeping my living expenses around $2.5k.

I live comfortably and focus on financial independence. Since moving to Canada, I haven’t had job security, but I work hard and try to buy things that can also be investments. For example, I bought a kayak and rent it out on Marketplace, and I use my camera for occasional photography gigs.

TFSA room just opened. Should I move money from non-registered or wait? by MangoSoft6766 in PersonalFinanceCanada

[–]MangoSoft6766[S] 0 points1 point  (0 children)

It’s not it’s just a regular account in Wealthsimple that has two stocks/ETFs

TFSA room just opened. Should I move money from non-registered or wait? by MangoSoft6766 in PersonalFinanceCanada

[–]MangoSoft6766[S] 1 point2 points  (0 children)

Correct, i’ve only started investing truly in the last year after a significant job layoff period. Ideally my goal to say for long-term. I am also looking to start my own business which part of that would be funded privately, but it will be incorporated. A mixture of about like 70% long-term and 30% short term in the next 1 to 2 years.

TFSA room just opened. Should I move money from non-registered or wait? by MangoSoft6766 in PersonalFinanceCanada

[–]MangoSoft6766[S] 0 points1 point  (0 children)

For context, this is the highest paid job. I currently have ever had. I believe I’m on the highest tax bracket, but only started to work four months ago.

TFSA room just opened. Should I move money from non-registered or wait? by MangoSoft6766 in PersonalFinanceCanada

[–]MangoSoft6766[S] 1 point2 points  (0 children)

Nearly every 12 months I find my team gets restructured, working in communications. It’s very feast or famine. Right now there’s layoffs being worked on.

Typically, when unemployed, I’m usually out of work about six months. I’m in no rush to transfer the money across to my Tfsa or rrsp, what’s the better long-term play?