Today is the first paycheck after I upped my my automated RRSP contributions at work. This of course means a much smaller paycheck until I max out the company match (100% match up to 6% of income, plus 20% match up to 16% of pay).
The smaller paycheck will actually be a good thing since I will force me to live on a much tighter budget, which is a good thing. I’m all for living below my means as much as possible.
With the increased contribution (and match), plus other savings and investment income, I should have no trouble with $100k net worth by June. Now I need to do some research to make sure the contributions are invested wisely.
A Canadian girl working hard for her money and learning to make her money work hard for her.
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1 comments:
I was considering raising my 410k contributions because I find it easier to save if I don't have access to the money. However, I'm pretty cash poor right now (my EF has $500), so I really need to save more cash before I up my 401k contributions.
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