First Time Home Buyer’s Plan

Since the market has been so destructive lately, and I plan on using my RRSPs for the First Time Home Buyer’s Plan in a few years, I’ve reduced my monthly contributions from $500/month down to $200/month. And of that $200, $100 is going into a Money Market fund, and the other $100 is going into T-Bills.

Once I max out my EF, I’m going to concentrate on putting the excess money into my Condo Down Payment Fund. That way, I know my money won’t whittle away down to nothing.

If I wasn’t going to use my RRSPs, I would be putting money into my retirement funds like nobody’s business … but I can’t afford to keep throwing money into a black hole when I’m going to need to use it in around 3 years. So, this is the route I’m going to have to take. Especially because I need to be aggressively saving for my trip around the world with BF.