Quote:
Originally Posted by WilsonFourTwo
Don't sweat the RRSP stuff right now. I know that 'Mortgage v. Savings' is the constant great debate amongst financial planners, but neither side is actually wrong per se.
Everyone's minimum goal should be to retire without a monthly housing cost. CPP and OAS provide enough money for the typical person to live a simple but healthy lifestyle. You can afford Christmas presents, you can feed yourself, etc etc. That said - if you're still carrying a Mortgage or paying a significant amount in rent, you're gonna be in trouble.
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Oh, I'm not concerned in the slightest about any of this stuff. I've accomplished a lot on a minimal salary (technically below the poverty line) in the past seven years or so (own a house, still have an RRSP but just not where I would like to be). If anything, I'm one of the most fiscally responsible people you'll ever see and I'm pretty confident I'll be alright in the future. I should actually write a book about how to stretch your salary as I'm honestly that good at it.