Quote:
Originally Posted by Paul Markham
Metaman I hear what you're saying. The problem is if you end up at 60 with nothing put away you're going to be screwed. You might end up working until you die.
Putting it all into your business is risky, if the economy tuns to shit it's the first thing that could get hit. Putting it into property is fine if you have that kind of money. Pension savings are for the rest of us.
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fully agreed that is very possible.
but i do however plan on investing when i bridge gap from middle to upper class. i currently have 0 debt. i mean i do not even owe $10 on a credit card. i am currently renting and do not want to invest into real estate in yet. i have all my money tied up in my own business ventures.
i do not see it risky because i am making my money work for myself. i do not like canada savings plans. the amount of tax is just ridiculous. maybe once i am out of a socialist country i will change my mind.
for me i have no wife no kids and do not plan on any surprises. i currently am young enough where i can afford to take risks. instead of putting the extra $10k in a savings plan i would rather put it towards my business and make the money work.