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I earn about $70,000 CAD per year pre-tax, this being my first job out of college. I owe about $25,000 in student loans, paying at prime (5%). I can claim the interest paid on this loan in my tax return as an expense in Ontario.
My post tax earnings we can say is approximately 45,000 (should be slightly more). I'm trying to figure out how much I should pay towards my student loans, how much I should contribute to specific investments, and if I should start maxing my employer's matching fund. They offer a 3% match on RRSP and 3% in company stocks.
I am paying $500 a month for my car, so $6,000 per year. With gas this comes up to about $650/month (slightly less).
I am a full-time employee, not on contract.
What specific investment vehicles should I pursue? Should I just gamble some money on the stock market? I have a TFSA account I've set up for trading.
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Dude, I'm living in a shifty basement on a mattress.
Do you know what you could do with just 100 of those dollars?
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Pay off student loans unless your investments can outearn the interest accrued.
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>earn 70k
>45k after taxes
>25k in taxes
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>>16856367
>muh free healthcare tho
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There's a good chance gold will hit 2012 prices in the next year or two, but I'd hurry up because the price is already going up. With the general stock market being so volatile this year and what's going on with oil production between the Middle East and the US. Gold usually goes up in times like these and it already has been since the beginning of the year.
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