I aim to balance fun now and saving for later...
For me and my spouse that looks like contributing to our company rrsp plan.... about 12% of our combined income total.
We own a house that we are aiming to have paid down by 50... we bought an older duplex in decent enough shape, but on a good piece of inner city land, so in my mind this is a sound investment (rather than having bought a nicer house on a half lot or a new duplex). If I had to downsize to a condo later in life then this would presumably free up a pile of money later on.
We have a child now which doesn’t leave a ton of room for further savings at the moment, but typically we max out one of our tfsa and sometimes both.
We do prioritize having one big trip per year, a decent year round lifestyle, including a few weekend trips where we are cost sensitive. We could save plenty more if we needed to, but if I’m planning to work into my 60’s I feel like I have enough savings vehicles already, and honestly I assume my cost requirements will be smaller in the future. Can always just move to Mexico if not, lol.
Anyways, I won’t sacrifice having a desirable lifestyle today to save incremental dollars. Want to make memories, not get too money anxious, and enjoy my youth (31 right now).
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