Each month I put away all my remaining money into some kinds of savings accounts until I need to use it. Instead of locking... »
Tag Archive
My Networth: June 2009
I just got my cheque today. Let’s see what’s been changed during the month June. Overall Assets: +21% Liabilities: -1% Equity: +55% In terms of assets, I’ve contributed my maximum RRSP limit for year 2009 which is $21,000. As such, I put the remaining money in high interest savings accounts. I don’t have any plan yet to... »
RRSP – Maximize Your Retirement Savings
What’s an RRSP Registered Retirement Savings Plan is a retirement plan that you or your spouse or common-law partner establish and contribute to. RRSP contributions are tax-deductible;ie, it can be used to reduce your income tax. RRSP vs CPP Why should I invest in RRSP when I can get CPP (Canada Pension Plan) benefit at retirement? Reason: CPP... »
CPP: small plan, big potential?!
I checked my CPP Statement of Contributions just now. Sadly enough, I discover that I’m only eligible to receive a monthly retirement pension of $240, if I turned 65 this year and decided to receive CPP benefit. How am I supposed to survive with that petty amount. I spend about $200 each... »
My Networth: May 2009
It’s the end of May. Time to update my networth. My goal is to reach my first million dollar networth in 7 years after university study, which means I have 5 more years to accomplish it since I graduated in April, year 2007. Like I said in my previous networth report, I want to put... »
My Networth: April 2009
This is my first networth report. Beware, it can be quite lengthy but it should be very interesting to see just how much has changed since I embarked on my first real occupation starting in June 2007 after my university training. After two years of working, I finally bring the whopping $160,000 education debts down... »