[Chumley]

EyeBrock EyeBrock:

Yes I read the bloody Post and drink Tassimo coffee! This is a witch hunt on the Limey immigrant....

Ok, I am picturing you reading the post drinking Tassimo coffee in that jacket your avatar has on.
Someone notify immigration, we have a problem.

[andyt]

BigKeithO BigKeithO:

CanadianJeff CanadianJeff:

Bad wages and hate against the unions who fought so hard to try and get the common man his slice of the pie is what happened to the nation of savers.

At the end of the day it's all about the profits in the pockets of corporations and it's sadly rarely about the individual anymore.

How do you propose that Canada competes in a global market with your beloved unions fighting for higher wages all the time? You do realize that as globalization proceeds wages must stagnate or even go down? It makes no economic sense to continually attempt to drive wages up and up so "the common man can get a slice of the pie" while elsewhere in the world many, many people are willing to do more for less.

Canadians need to take a long hard look in the mirror and figure out where the problem lies. Our economy is based on consumerism and continually rising wages to fuel inflation. This no longer works when you inject 3rd world economies that will do the same work for less. Where has all of the manufacturing gone? Why has it gone there?

You may love your unions but they are part of the reason we are in this situation today. Wages cannot and will not continue to grow forever, at least not for the working class.

Ah, so we're going to join the 3rd world instead of the other way around.

[martin14]

Chumley Chumley:

EyeBrock EyeBrock:

Yes I read the bloody Post and drink Tassimo coffee! This is a witch hunt on the Limey immigrant....

Ok, I am picturing you reading the post drinking Tassimo coffee in that jacket your avatar has on.
Someone notify immigration, we have a problem.

Toronto is full of freaks these days....

[Dragom]

andyt andyt:

Ah, so we're going to join the 3rd world instead of the other way around.

Well meeting in the second world hopefully... lol

[EyeBrock]

Chumley Chumley:

EyeBrock EyeBrock:

Yes I read the bloody Post and drink Tassimo coffee! This is a witch hunt on the Limey immigrant....

Ok, I am picturing you reading the post drinking Tassimo coffee in that jacket your avatar has on.
Someone notify immigration, we have a problem.

I'm actually on a horse too, just like the Old Spice guy.

[Strutz]

Brenda Brenda:

That is a Canadian thing (I guess) that I don't understand. Why would you stand in line for something like Timmy's coffee, if you can drink your own awesome coffee at home, all in peace and quiet?

I think a part of it is the "status" symbol attached, at least when it comes to a trendy place like Starbucks.

Timmy's coffee sucks, I don't know why some make such a big deal over it. A few years ago I got a can of it, along with a can of hot chocolate in a gift pack from a friend at Christmas. Decided to use it one day and brewed a pot like I normally would. Stuff came out the color of tea. Had to use more than twice the amount of grounds to make even look like coffee.

[Strutz]

Dragom Dragom:

Apparently your supposed to save 33% of your income a month.

Funny how I'd never heard that before.

I've NEVER heard that percentage before. I have heard you try for 10% (and how many of us can even do this?), but 33? You've got to be kidding.

[martin14]

10% when you are under 25.

The percentages go up as you get older and still dont save... like 99% of us.

Work till you drop !!

[Chumley]

Strutz Strutz:

Dragom Dragom:

Apparently your supposed to save 33% of your income a month.

Funny how I'd never heard that before.

I've NEVER heard that percentage before. I have heard you try for 10% (and how many of us can even do this?), but 33? You've got to be kidding.

I have only ever managed about 5%. Of course with the hit the markets took, 5% is worth a lot less now.

[CommanderSock]

Strutz Strutz:

Dragom Dragom:

Apparently your supposed to save 33% of your income a month.

Funny how I'd never heard that before.

I've NEVER heard that percentage before. I have heard you try for 10% (and how many of us can even do this?), but 33? You've got to be kidding.

33% Living Expenses
33% Savings
33% Shelter

That's the ideal. Simplified. The 33% saving is inclusive. Retirement savings, savings for purchases, savings for children's education etc.

[EyeBrock]

Personally I'm paying off a larger chunk of my mortgage each month with a low rate variable.

Saving at these shitty rates isn't worth it. Paying off debt with low interest rates is the way to go.

[DerbyX]

Well I routinely put 25% of my pay into my RRSP. The first 2 and a half years I did it I got a yearly return of 17%. No fooling. Then the stocks hit the big decline. That hit hard. Its averaged out still pretty good at a 6% return but with RRSPs there is the added bonus of bringing down my total income thus lowering not only my fed & prov taxes but my health care premium.

It amazes me the number of people at work who do not take advantage of the companies policy of matching contributions. They are literally throwing away free money.

[BartSimpson]

Strutz Strutz:

I've NEVER heard that percentage before. I have heard you try for 10% (and how many of us can even do this?), but 33? You've got to be kidding.

Lisa and I are saving about 40% these days. After the house was paid off we continued making 'mortgage payments' to savings and that accounts for most of that 40%.

Early on we made the goal of being debt-free #1 even as we did set aside savings because the best way to save money is to not be giving it to the bank in the form of interest. Now we owe nothing to no one and it is a great feeling not to be in debt bondage.

[DerbyX]

Technically I'm well out of debt, meaning that I could use all my assets and pay off everything I owe and still have money left over but I'm still paying off some loans. Simply put I make more money contributing to my RRSP then it costs me in interest.

[ASLplease]

DerbyX DerbyX:

Well I routinely put 25% of my pay into my RRSP. The first 2 and a half years I did it I got a yearly return of 17%. No fooling. Then the stocks hit the big decline. That hit hard. Its averaged out still pretty good at a 6% return but with RRSPs there is the added bonus of bringing down my total income thus lowering not only my fed & prov taxes but my health care premium.

It amazes me the number of people at work who do not take advantage of the companies policy of matching contributions. They are literally throwing away free money.

has the 18% cap for the RRSP contributions limit been shifted to 25%?