Hi all,
I hope to get some feedback on how to get to my retirement number:
I have around $100k combined, saved in a registered retirement savings account and tax free savings account (RRSP and TFSA in Canada). I kept the $100k in savings for the time being but the earnings as you have guessed, were low.
Now moving forward, I opened a direct brokerage account and I plan a DIY approach to investing. I was reading about buying and holding index funds and I looked up Vanguard Canada ETF’s. I was thinking to pull the trigger but not sure about allocations or overall strategy.
The goal is to have a retirement portfolio of about $900-1M in 15-16 years, when I plan to retire.
I plan to contribute $30k/year for 15 years and I was counting on an interest rate of 6% (as per online compounding calculators).
Thank you for all the suggestions.
I hope to get some feedback on how to get to my retirement number:
I have around $100k combined, saved in a registered retirement savings account and tax free savings account (RRSP and TFSA in Canada). I kept the $100k in savings for the time being but the earnings as you have guessed, were low.
Now moving forward, I opened a direct brokerage account and I plan a DIY approach to investing. I was reading about buying and holding index funds and I looked up Vanguard Canada ETF’s. I was thinking to pull the trigger but not sure about allocations or overall strategy.
The goal is to have a retirement portfolio of about $900-1M in 15-16 years, when I plan to retire.
I plan to contribute $30k/year for 15 years and I was counting on an interest rate of 6% (as per online compounding calculators).
Thank you for all the suggestions.