Retirement is only 30 years away!
I woke up in the middle of the night with a panic attack. I was dreaming that I didn’t have enough money to retire, and was living on the streets as an old woman. BF was with me too. I guess he didn’t have enough money to retire either. So I guess it wasn’t so much a dream, than an absolute nightmare.
It must be a sign. I need to start saving more into my Retirement Portfolio. Right now I’m contributing $550/month. I’m going to step that up to $600/month and see how that goes. $50/month extra isn’t a lot, but it’s a start.
Also, I got to thinking that since I definitely want to retire early (maybe 55-60?), and since I can’t touch my RRSPs until I reach the age of retirement, I’m going to have to seriously beef up my TFSA to make sure I’ve got money in there to last me.
I’m so jealous of my friends who work for companies who RSP match! Free money like that would be glorious.
9 Responses to “Retirement is only 30 years away!”
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I don't think you have anything to worry about, but saving more is never a bad thing :)
I so hear you on this. I got a late start so I'm freaking out. I upped my contribution too, every little bit helps!
My recent post Budget 3/03 – 3/16
How about moving to a low tax or even tax-free jurisdiction with a low cost of living?
You're not planning to take out money for the home buyer's plan?
you know, only 38% of Canadians contribute to an RRSP so with you being so young (under 30 I assume?) and socking away so much money, I think you're in a really good position.
My recent post Yakezie Challenge Mid-week Round-Up
the fact that you are able to save as much as you do is amazing to me. I make about $1600 a month right now and im working on paying off my student loans and trying to save and you are definitely inspiration.
the fact that you are able to save as much as you do is amazing to me. I make about $1600 a month right now and im working on paying off my student loans and trying to save and you are definitely inspiration.
You crazy person!
You're doing awesome. Much better than A LOT of people our age. Which clearly doesn't mean anything to you, because you have raised the bar pretty high. :)
But saving more is never a bad idea.
I have the same nightmare. It's freaks me out. I make six figures, have a net worth in the $300K range (at 31y/o), max out 401(k), IRA, 4 rental properties, and it doesn't make any difference.
Did yours involve all of your stuff in a shopping cart and a tent under a bridge? Mine does. It is apparently something called bag lady syndrome. I lose a lot of sleep over it, and constantly run numbers in my head when I am laying awake at 3:00 a.m.
I have the same nightmare. It's freaks me out. I make six figures, have a net worth in the $300K range (at 31y/o), max out 401(k), IRA, 4 rental properties, and it doesn't make any difference.
Did yours involve all of your stuff in a shopping cart and a tent under a bridge? Mine does. It is apparently something called bag lady syndrome. I lose a lot of sleep over it, and constantly run numbers in my head when I am laying awake at 3:00 a.m.