Are they teachers? If not, not sure if other defined benefit pension plans are as lucrative in terms of retiring with the amount of income you're stating right at age 55. That is unless they're getting paid closer to 150k a year in government at the moment.
Wish I'd Known
- Last Updated:
- Mar 22nd, 2019 5:28 pm
Tags:
- SCORE+5
- aspen300 [OP]
- Member
- Jul 28, 2012
- 206 posts
- 42 upvotes
- rfdrfd
- Deal Guru
- Jun 26, 2005
- 10111 posts
- 1966 upvotes
- Toronto
They are Registered nurses.
If I was to restart my career again, being a heterosexual male, I'd choose to be a nurse too! Almost everyone in the class would be female, hehe. And not as difficult as MD.
- Piro21
- Deal Expert
- Nov 15, 2004
- 21786 posts
- 4903 upvotes
- Toronto
I'm guessing cops or firefighters. Those are the two biggest groups pulling in those sort of salaries with DB pensions.
- THINKPOD
- Sr. Member
- Mar 7, 2008
- 721 posts
- 196 upvotes
- Leask
Focus on buying appreciating asset
Think three times before taking on debt that doesn’t make money
Don’t waste time. Be bold and don’t settle in life.
Think three times before taking on debt that doesn’t make money
Don’t waste time. Be bold and don’t settle in life.
- JoelK22976
- Sr. Member
- Jul 25, 2018
- 784 posts
- 1241 upvotes
- Milton, ON
Everything you need to know about your career, personal finances and student life are on RFD.
- atomiton
- Deal Addict
- Dec 14, 2007
- 3105 posts
- 1530 upvotes
Cover the link between between the gambler's bias and investing.
If you've flipped a coin 10 times in a row and it's been heads 10 times, what's the chances of it being tails on the next flip?
1) 50%
2) Higher than 50%
3) Lower than 50%
4) 100% ( it must be a double-headed coin )
The answer is #1 ( or maybe #4 if you're a conspiracy theorist )... still 50%... as the fundamentals didn't change... each coin slip is an isolated event.
When investing, if you see a market going up and up, you might tend to think that the market HAS to go down as it's been going up too much. Same thing when it's going down. So you may ignore fundamentals and invest with your gut based on that. If the fundamentals that underpin a market or a company are strong generally, it will continue to increase... unless the market's rigged ( which admittedly it is in some cases... at least for the short term )
If you've flipped a coin 10 times in a row and it's been heads 10 times, what's the chances of it being tails on the next flip?
1) 50%
2) Higher than 50%
3) Lower than 50%
4) 100% ( it must be a double-headed coin )
The answer is #1 ( or maybe #4 if you're a conspiracy theorist )... still 50%... as the fundamentals didn't change... each coin slip is an isolated event.
When investing, if you see a market going up and up, you might tend to think that the market HAS to go down as it's been going up too much. Same thing when it's going down. So you may ignore fundamentals and invest with your gut based on that. If the fundamentals that underpin a market or a company are strong generally, it will continue to increase... unless the market's rigged ( which admittedly it is in some cases... at least for the short term )
I'd love to write history... in advance.
AMEX Biz Plat 75K AGAIN! | Plat 60K | Biz Gold 40K | Gold 25K | SPG 20K
AMEX Biz Plat 75K AGAIN! | Plat 60K | Biz Gold 40K | Gold 25K | SPG 20K
- Bull Dog
- Deal Addict
- Aug 1, 2006
- 2716 posts
- 2392 upvotes
- Toronto
Great advice, but if you are in a low income bracket first maximize your tax free savings account ( TFSA ). If you want the equivalent of Saskatchewan Pension Plan within a TFSA open up a TFSA with Questrade discount broker and buy either Vanguard Balanced ETF ( VBAL ) or Vanguard Growth ETF ( VGRO ) . You can set up regular contributions with them.
- Bull Dog
- Deal Addict
- Aug 1, 2006
- 2716 posts
- 2392 upvotes
- Toronto
Can I add don't have kids or get a pet ?OttawaGuy2 wrote: ↑ You can talk about little things and then grow from there.
Examples:
1) No Fee banking
2) Cell phone plans
3) Taking care of maintenance of your own car.
4) Passive investing.
5) Getting best bang for your buck by avoiding expensive brands but still focusing on quality.
etc. etc.
Just kidding......
- jellytime
- Deal Addict
- Feb 19, 2014
- 3352 posts
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- Langley
- Alex383
- Banned
- Jun 6, 2016
- 361 posts
- 257 upvotes
- Scarborough, ONT
- User455957
- Deal Addict
- Nov 8, 2017
- 1556 posts
- 894 upvotes
Meh. I didn't get career minded until 35 or so. Before that , I just kinda floated around sold weed and traveled around alot . Went to school @ 35, upgraded from grade 11, and went to university for 3 years .
I now work in the medical\ substance misuse counseling field
Recession proof career $$$
I now work in the medical\ substance misuse counseling field
Recession proof career $$$
- User455957
- Deal Addict
- Nov 8, 2017
- 1556 posts
- 894 upvotes
- mech9t5
- Deal Fanatic
- Dec 16, 2005
- 6905 posts
- 5592 upvotes
What is your threshold for "waste"?User455957 wrote: ↑ or get married.
It amazes me when I see "frugal" minded people waste so much $$$ on weddings and honeymoons.
- User455957
- Deal Addict
- Nov 8, 2017
- 1556 posts
- 894 upvotes
- Exp315
- Deal Addict
- Jul 3, 2017
- 3859 posts
- 2814 upvotes
It appears to be just another RRSP-eligible investment fund with a 1% management fee, no special tax benefits or anything. Am I missing something?
- madara
- Deal Addict
- Sep 29, 2007
- 2265 posts
- 305 upvotes
- Mississauga
- mre
- Deal Addict
- Dec 14, 2004
- 1146 posts
- 469 upvotes
- Waterloo
- Aquabear
- Newbie
- Nov 10, 2016
- 15 posts
- 9 upvotes
A short analysis of this Fund here: https://www.milliondollarjourney.com/hi ... an-spp.htm
It doesn’t seem to have distinctive features apart from the ability to contribute with a cash back credit card
- jacnel
- Deal Addict
- Dec 3, 2017
- 3175 posts
- 3129 upvotes
- Toronto
- spena
- Deal Fanatic
- Dec 23, 2008
- 6114 posts
- 1693 upvotes
- Milton