Been reading a lot of posts about personal finance on Reddit and was wondering if I could get an outside look of my financial situation.
I have been really focusing on saving for my eventual retirement. Finances are as follows:
Salary: ~120K this year, can increase if I work out of country more
S/O Salary – 70K
Mortgage (3.72% just locked in for 4 years, 25 yrs left with RBC): Bought for 486K, 100K down payment, 339K mortgage, house value ~770K now.
LoC (Borrowed from Heloc off my mortgage, 5.45%, used to buy a 2024 RAV4 hybrid for Fiancé, put a 30K downpayment from savings): 6K, paid down from 15K in a year.
RBC Bank
Chequings: 12.5K
Savings: 2K
Joint Savings: 850
RRSP investment(Just to have it open for monthly banking fee savings) : Invested 1800 now worth 3K – HBFG
Wealthsimple
HYSA(2.25%)- 20K
TFSA – 94K (QQC-17K, VCN-15K, VEF-12K, VFV-50K)
RRSP – 83K all in VEQT
I know I’m tech heavy in my TFSA but I want to be as I have high hopes for the AI industry and tech stocks in general.
I have automated investments setup from my RBC chequing account set to transfer about 1K to WS TFSA and 200 WS RRSP at the start of every month. Might change depending how costly a baby can become. I also contribute 2K from my companies benefits HSA at the beginning of the year into my WS RRSP instead of using it on benefits.
No credit card debt on my Visa or MC as I always pay it in full every 2-3 weeks.
Fiancé is 36F and has about 25K in matching RRSP account set up by her company, she’s at 4% match currently. About 2K savings. She will be going on maternity leave in next month so will be on EI mat leave income, our first child.
We have a 8 yr old GSD with allergies as a pet and to those who are thinking about having a big dog, they can get quite expensive and a lot of work but we couldn’t imagine our lives without him.
Almost forgot to add, I drive a 2012 Toyota Tundra (160K Km’s)that’s been paid off for 8 years or so with no issues. Plan to drive this truck until it starts giving me a lot of issues, hopefully that won’t be for a long time.
I think that’s pretty much the scope of it. How am I making out? Good or Bad? Anything you guys would change or make suggestions about?
TIA
