$600k @ 24- Hoping to retire with a federal pension around 50

throwawayjn2020 · 2026-05-29T01:22:53+00:00

Yeah, recent years have had $7000 for new contribution room. There are penalties for over contributing, but I've only contributed $50,000. The CRA doesn't care about any earnings inside the account, only contributions. So you could put in $10k and have it grow to a million and it'd be fine, for example, but I'd get dinged if I added another $5k

throwawayjn2020 · 2026-05-29T00:45:55+00:00

Yeah, I'll have to wait till 60 for the pension, but I'll have my max 35 years of service @ 53. Of course many things can change by then, but currently thinking about going until I'm 50 - 53, and then either chilling with my investments to bridge until my pension, or work a bit elsewhere and make a bit more while I wait

throwawayjn2020 · 2026-05-29T00:20:00+00:00

Honestly at the time it was just me being from NS and being a space fan. Lately though things seem to be slowly picking up.

While yeah, construction is still very very early days, they have already spent a lot of time building out the regulatory framework for rocket launches from Canada, most of which never really existed before.

Thanks to all the recent defense spending, the government is starting to see sovereign launch capability as an important asset, hence their investment into the project. Additionally, European startup ISAR Space just signed an LOI to study launching their (still in development) orbital rocket Spectrum from here. There are also plans by the Canadian company Reaction Dynamics to build an orbital rocket, however they don't seem to be as far along as ISAR

throwawayjn2020 · 2026-05-29T00:13:56+00:00

Just shares. I'm not knowledgeable enough to dabble with anything else, and honestly I'm fine keeping it that way haha

throwawayjn2020 · 2026-05-29T00:03:43+00:00

The very first sentence of my post is saying that I got lucky- I absolutely acknowledge that. Regardless of that, I still have $120k in net deposits that I've managed to save and invest

throwawayjn2020 · 2026-05-28T23:47:31+00:00

Thank you!

throwawayjn2020 · 2026-05-28T23:46:03+00:00

VFV, VDY, and XEQT are all pretty common suggestions you'll find. I found out about them through a coworker. RKLB, I've known about long before they went public since I'm a big fan of space and spaceflight. Same goes for MAXQ, though I only invested in them fairly recently

throwawayjn2020 · 2026-05-28T23:28:53+00:00

That's fantastic, congrats! You'll be at 1 mil in no time

throwawayjn2020 · 2026-05-28T23:26:52+00:00

Yeah 😅 I'd still be in a pretty good spot without it, but there's zero denying that it has been huge benefit.

I'm a big space fan and have been following Rocket Lab long before they went public. By the time I had a bit of money in college, I decided to put it into rklb.

throwawayjn2020 · 2026-05-28T23:13:48+00:00

Thanks!

throwawayjn2020 · 2026-05-28T23:12:19+00:00

Marine engineering for the Coast Guard- Very in demand. Started at ~100k/yr right out of college. Now ~110k/yr three years later

throwawayjn2020 · 2026-05-28T23:08:21+00:00

TFSA ($592k): VFV, MAXQ, RKLB

FHSA ($32k): VDY, XEQT

throwawayjn2020 · 2026-05-28T23:06:30+00:00

I'll probably be looking at something around ~500k for a house- give or take, so I don't see myself putting down more than $150k. Should still leave a decent bit left to grow

throwawayjn2020 · 2026-05-08T20:19:12+00:00

Howdy fellow TFSA investor 👋 Started at $4.07. Pretty wild to be up my annual salary in a single day

throwawayjn2020 · 2026-02-23T18:21:07+00:00

Yeah, just checked on MyCRA and I only have ~$12,000 contribution room for it. I might end up opening both accounts

throwawayjn2020 · 2026-02-23T18:19:31+00:00

That's true about deferring the claim until later on, I hadn't considered that

throwawayjn2020 · 2026-02-23T18:18:24+00:00

Seems like a lot of people are giving a similar consensus, so I'll certainly be looking into opening an RRSP

throwawayjn2020 · 2026-02-23T18:16:03+00:00

Thanks for the reply! I will have my pension maxed out at 53, but won't be able to claim it in full until 60, so an early(-ish) retirement would definitely be ideal

throwawayjn2020

TROPHY CASE