What’s your real personal savings rate?

Using credit to save is not really saving

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Subtract spending from income to get your real monthly savings rate.

2 comments on “What’s your real personal savings rate?

  1. Mine is 60

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  2. My spouse and I are saving the maximum in TFSA’s $11,000 annually, $30,000 in RRSP’s and reinvesting the $12,000 annually from RRSP income tax refunds in non-registered accounts.

    All we do is buy long term provincial strip bonds and GIC’s. We are content with the current 3.50% combined annual interest rates. This will bring in our 4.5 million in 40 years. This is all done with have a $600,000 house paid off in 25 years and a savings rate of 32% of our $167,000 a year gross incomes.

    We don’t see future longer term strip bond yields going higher than 4.00% to 4.50%. Even these modest changes will bring in another $500,000 to $1,100,000 by retirement in 40 years.

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