Stressed About RRSP Time? Try this.

Why you shouldn’t fear the deadline.

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March 1st. The day every year where Canadians rush to the bank to contribute to their Registered Retirement Savings Plans (RRSPs).

The benefit is real: contributions made before the deadline can be deducted from a Canadian’s taxable income in the 2017 tax year, which either reduces a tax hit or can generate a refund. Meanwhile, RRSP money grows on a “tax-free” basis (more on that later…), with the withdrawals getting  tax deferred treatment in retirement at a lower rate (ideally, if you plan it right).

Continue reading “Stressed About RRSP Time? Try this.”

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Don’t chase the number.

Salary is just one factor. Not the be-all and end-all.

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I had a relative a few years ago who was the pride of many in the family. Why? She was absolutely killing it on paper. A business degree from one of the top schools in Canada. A job at a reputable employer with a six-figure salary. A beautiful bachelor apartment in downtown Toronto all to her self. She had it all by age 30 – except her happiness.

Continue reading “Don’t chase the number.”

Japan: 2.5 weeks for $3,690.

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Sunset view from Miyajima, an island just off of Hiroshima.

This past spring, I crossed off a travel site on my bucket list: Japan. That place where cherry blossoms bloom in April (now March – thanks climate change). Where almost all toilets can clean your butt (seriously). And where it seems that if you love something, guaranteed there is a store dedicated to that thing: Kit Kats? Not a problem, here’s a store. Pokemon? Here’s a store. Capsule toys? Here’s a store.

Continue reading “Japan: 2.5 weeks for $3,690.”

January 2018 Financial Update

Net Worth Jan 18

Ah! January! The month of renewed optimism until the cold really sets into your bones and the sun disappears behind those dreary, snowy clouds (in Canada, anyway).

This is the first month-specific financial update post since November since I took the first Monday of January to post about my 2017 year as a whole. Since that time, I’ve made it through the first two months of my new job, got offered to be a national speaker for an after-school program (yay side hustles!), and learned the cost of commuting.

In all, my savings rate for January was 61.42% over a spend of $2,199.05.

Continue reading “January 2018 Financial Update”