I also save about 50% of take home/after tax, when I add back in my workplace payroll deductions (DC pension, share purchase; not CPP). Similar life circumstances... I probably spend a bit too much on some things, and too little on others.
A 50% savings rate is huge....that's great.
I think ours is about 25% with TFSAs and RRSPs and non-registered investments. Excluding mortgage prepayments.
Hidden Content - Working on a $1 million portfolio and $30k per year from it.
only if you and you spouse are in different tax brackets.we'd be saving more on taxes if it was a spousalif you have RRSp room, than why do invest into Cash account?I have ~90K of unused RRSP contribution room
The only cash account we have is joint HISA for "emergencies" (and I don't consider it investing ) So until we max out registered - no unregistered...if you have RRSp room, than why do invest into Cash account?
(I'll answer any further questions in my thread - James, I'm sorry, I was just trying to make a point that wife will not spend all your money! lol)
Last edited by Moneytoo; 2015-09-02 at 06:54 PM.
Monthly update. September spending: $3,096
Unfortunately I ran over my target budget of 2900. Looking at the causes using my category breakdown, I'm over-budget entirely due to travel expenses.
I always give vacation/travel spending a pass. I make sure I'm not going nuts with it, of course, but I don't include it when I'm assessing my spending habits. At the end of the year I look at my non-rent, non-grocery, non-vacation expenditures, and as long as they are well below $1,000/month (on an annual basis), I am happy.