Quote:
Originally Posted by godwin
My advice for most people on this board.. if you need a house and you love what you see and can afford it.. buy it.. if you are saving for a house, build your downpayment via TFSA's stock option (I think we should have at least 30k limit now?), then max out your RRSP. Be smart about your money. Which congruent with what you are implying, most people are clueless about their finances.
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I think the problem facing young people today is that your average 50K salary really limits investment opportunities given the cost of living. Most jobs don't have pension plans, so what does a yuppie do? Not everyone wants to (or can) live in their parents' basement rent free in their 20s and early 30s. It can easily cost $2000/month to live in Metro Vancouver. If you take home around 2500-3000/month net, what's left to invest?
Buying a home requires sacrifice, there's no doubt about that, but how much should people sacrifice?
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