Quote:
Originally Posted by westopher
I'd call the e30 a liquid 55k, but other than that, yes, we keep 30-40k liquid for issues that may arise. That said, we don't have a ton in our RRSPs or anything like that, but retirement savings doesn't do me any good if we are homeless in our 30s.
I'm not trying to be a dick, but your spending is the issue, not the cost of living. Our mortgage is $3500 a month and I feel like we live in a fuckin mansion.
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Together the both of us has about 300k in RRSPs. It's not much and definitely not enough to retire on.
The house was bought in 2021 in the height of the pandemic without knowing when it would end. We needed more space because we were both holed up working from home.
We do spend money, but not excessively so. When we bought the house the mortgage was 4500 because we did variable. We didn't expect the rates to go up so much so quickly. It is now dropping again and it'll only get easier/better from here. I expect it to drop to around 6-6500 when we renew in a year. We aren't in a position to sell because the market isn't a place where it wouldn't result in a significant downgrade and also incurring a ton of costs.
Other than buying a X5, I don't know what part of my spending is excessive.
Either ways I didn't post so you guys pick apart of finances, but rather to show that living paycheque to paycheque can be all over the map.