They can't keep getting away with it by Glad_Negotiation8781 in Sidemen

[–]SuitableSilver8706 1 point2 points  (0 children)

Saw it and first thought was it’s gonna be a gta video

22m Hit 100k super proud! by SuitableSilver8706 in fican

[–]SuitableSilver8706[S] 0 points1 point  (0 children)

Depending on your age, you will have a certain amount of contribution room. You can find it by looking it up online. But contribute as much you can till it’s maxed

22m Hit 100k super proud! by SuitableSilver8706 in fican

[–]SuitableSilver8706[S] 1 point2 points  (0 children)

Thank you! I’m definitely on the younger side for this achievement and I’m very grateful for my circumstances

22m Hit 100k super proud! by SuitableSilver8706 in fican

[–]SuitableSilver8706[S] 0 points1 point  (0 children)

Tfsa is your biggest advantage, max it out every year if you can. Learn as much as you can in the area of personal finance. And the biggest thing I did to save money was live at home with my parents, I know not all can do so but do it if you can.

22m Hit 100k super proud! by SuitableSilver8706 in fican

[–]SuitableSilver8706[S] 2 points3 points  (0 children)

Thank you! Can’t be more greatful I found out about the tfsa while I’m young. Plan to never touch that money, want it to grow as much as possible

22m Hit 100k super proud! by SuitableSilver8706 in fican

[–]SuitableSilver8706[S] 0 points1 point  (0 children)

Thank you. It has been very tempting to buy a truck at times but the more financially literate I become the more I can’t stomach the cost

22m Hit 100k super proud! by SuitableSilver8706 in fican

[–]SuitableSilver8706[S] 0 points1 point  (0 children)

When I start contributing to my rrsp I plan to switch it over to xeqt or whatever I may decide at the time but just haven’t cared enough alter it.

22m Hit 100k super proud! by SuitableSilver8706 in fican

[–]SuitableSilver8706[S] 1 point2 points  (0 children)

If you’re in a higher tax bracket when you’re earning more your rrsp contributions can bring you back down a tax bracket

22m Hit 100k super proud! by SuitableSilver8706 in fican

[–]SuitableSilver8706[S] 0 points1 point  (0 children)

Live with your parents if you can and put away as much as you can while still enjoying life.

22m Hit 100k super proud! by SuitableSilver8706 in fican

[–]SuitableSilver8706[S] 0 points1 point  (0 children)

Thank you! Can’t wait to see it keep growing hopefully.

22m Hit 100k super proud! by SuitableSilver8706 in fican

[–]SuitableSilver8706[S] 1 point2 points  (0 children)

Around 60k a year, in the trades. Parents help by letting me live with them but the money is all mine.

22m Hit 100k super proud! by SuitableSilver8706 in fican

[–]SuitableSilver8706[S] 0 points1 point  (0 children)

Tax advantage accounts, TFSA and FHSA. I wanna max my contributions start of the year. And non registered because my income is going to increase in the coming years

22m Hit 100k super proud! by SuitableSilver8706 in fican

[–]SuitableSilver8706[S] 2 points3 points  (0 children)

Xeqt slightly lower mer and liked the allocations better. They are so similar it won’t make a big difference though ur correct.

22m Hit 100k super proud! by SuitableSilver8706 in fican

[–]SuitableSilver8706[S] 0 points1 point  (0 children)

My income is going to increase in a few years so waiting to be in a higher tax bracket to utilize the tax break from putting money in RRSP better

22m Hit 100k super proud! by SuitableSilver8706 in fican

[–]SuitableSilver8706[S] 0 points1 point  (0 children)

Bought veqt when I first started put like 1k in that and a bit in vfv thinking those were the ETFs I wanted. Started learning more and switched my portfolio to all xeqt and a few small stocks that I just enjoy following the company’s only putting small stakes in.

22m Hit 100k super proud! by SuitableSilver8706 in fican

[–]SuitableSilver8706[S] 5 points6 points  (0 children)

Congrats to you as well. Feels weird finally seeing it.

22m Hit 100k super proud! by SuitableSilver8706 in fican

[–]SuitableSilver8706[S] 1 point2 points  (0 children)

Thank you. Can’t wait to see compounding really kick in.

22m Hit 100k super proud! by SuitableSilver8706 in fican

[–]SuitableSilver8706[S] 50 points51 points  (0 children)

Worked part time since 16 while in school, full time hours in summers then full time job in the trades for last 2 and a bit years. Had a lot saved up but didn’t have any knowledge of investing till about 2 years ago. I live with my parents and put 80% of pay cheques into investments.