The Canadian dollar drops, the cost of living goes up. It is a ROLLERCOASTER RIDE!
Grocery and essential bills increase. Rent has leveled out, but if you plan on buying – wow, have someone back you!
I started to think about all of this after going onto my bank site and using their Retirement Calculator. HOLY!
This afternoon when I talk to my “GUY”, it will be about signing over most of my pay cheque so I can retire at some point.
BUT, then WHAT WOULD I DO! Therefore, I work!
How many people that are childless worry about their twilight years? How many people depend that their children will help them in some way as they age.
I have very little over-head, but that can change quickly. Whether your car breaks down, you need to move, health issues, anything!
Are you prepared for bumps along the way?
If I look at this calculation of my retirement, I might not be joking about living out of the back of my car!!
How to cut back so that money you make helps you in the latter stages of life. Do you really need that coffee, that magazine or going out to dine. Can you re-imagine your wardrobe, your home furnishings. How can you cut costs, still feel good about yourself and save money.
Sell your stuff on the Flea Market and then invest! Hey, there’s an idea.
Well, I suppose there’s no reason to panic just yet, but advice to people who are 16 to 25 – start saving now. Watch your money grow.
The advisor will tell you – start small and build. The ups and downs of the economy have ways of levelling out. Don’t panic.
But it is hard not to think of these things. Life is fleeting and it can change quickly.
I’m going to go and see my “GUY”, perhaps he will suggest I clean out the trunk of my car.
Happy RSP Season!