Comments on: Financial Goals Progress: June 2007 http://www.milliondollarjourney.com/financial-goals-progress-june-2007.htm Building Wealth through Saving and Investing Thu, 18 Mar 2010 19:51:02 -0400 http://wordpress.org/?v=abc hourly 1 By: Public Declaration | Million Dollar Journey http://www.milliondollarjourney.com/financial-goals-progress-june-2007.htm/comment-page-1#comment-15913 Public Declaration | Million Dollar Journey Mon, 05 Nov 2007 07:33:12 +0000 http://www.milliondollarjourney.com/financial-goals-progress-june-2007.htm#comment-15913 [...] written about my million dollar net worth goal and my financial goals for the year along with updates, what more should I write [...]

[...] written about my million dollar net worth goal and my financial goals for the year along with updates, what more should I write [...]

]]> By: After Tax Savings Rate - Oct 2007 | Million Dollar Journey http://www.milliondollarjourney.com/financial-goals-progress-june-2007.htm/comment-page-1#comment-14132 After Tax Savings Rate - Oct 2007 | Million Dollar Journey Wed, 10 Oct 2007 07:31:44 +0000 http://www.milliondollarjourney.com/financial-goals-progress-june-2007.htm#comment-14132 [...] by this and started to think about our own savings rate and how we compared.  As stated in my financial goals for 2007, we aim to save around 20% of our net (after tax) income.  Doesn't seem like much compared [...]

[...] by this and started to think about our own savings rate and how we compared.  As stated in my financial goals for 2007, we aim to save around 20% of our net (after tax) income.  Doesn't seem like much compared [...]

]]> By: FrugalTrader http://www.milliondollarjourney.com/financial-goals-progress-june-2007.htm/comment-page-1#comment-6314 FrugalTrader Fri, 15 Jun 2007 11:22:17 +0000 http://www.milliondollarjourney.com/financial-goals-progress-june-2007.htm#comment-6314 <b>ThickenMyWallet:</b> Good question! My wife has a pension which limits her rrsp contribution amount. For me, I contribute my maximum. The reason why it's so low ($400/mo), is b/c my first couple years out of University was a low paying salary. And in 2006, I was unemployed for a few months, so 2007 contributions will also be low. In 2008, RRSP contributions will get more aggressive. <b>David:</b> Yes, ideally, as our incomes increase we should stick with the same lifestyle and save more money. We have been pretty good with this the past couple of years with our pay raises, however, going forward, we are purchasing a fairly expensive house. :) We plan on aggressively paying down the mortgage on the new home and living there for a long long time. <b>Jill:</b> Thanks for the praise! ThickenMyWallet: Good question! My wife has a pension which limits her rrsp contribution amount. For me, I contribute my maximum. The reason why it’s so low ($400/mo), is b/c my first couple years out of University was a low paying salary. And in 2006, I was unemployed for a few months, so 2007 contributions will also be low. In 2008, RRSP contributions will get more aggressive.

David: Yes, ideally, as our incomes increase we should stick with the same lifestyle and save more money. We have been pretty good with this the past couple of years with our pay raises, however, going forward, we are purchasing a fairly expensive house. :) We plan on aggressively paying down the mortgage on the new home and living there for a long long time.

Jill: Thanks for the praise!

]]> By: GoalGuru.com http://www.milliondollarjourney.com/financial-goals-progress-june-2007.htm/comment-page-1#comment-6297 GoalGuru.com Fri, 15 Jun 2007 04:01:40 +0000 http://www.milliondollarjourney.com/financial-goals-progress-june-2007.htm#comment-6297 Congratulations on making outstanding progress towards your goals! High five to you! Live Your Dreams, Jill :) Congratulations on making outstanding progress towards your goals! High five to you!

Live Your Dreams,

Jill :)

]]> By: David http://www.milliondollarjourney.com/financial-goals-progress-june-2007.htm/comment-page-1#comment-6288 David Fri, 15 Jun 2007 01:34:21 +0000 http://www.milliondollarjourney.com/financial-goals-progress-june-2007.htm#comment-6288 FT: Yes saving 20% will put you ahead, David Chilton has shown that 10% makes a huge difference. However, for two families living in the same economy, it should be easier for the family with greater disposable income to save larger percentages. Both pay similar rates for necessities such as heat, light, & staples. The costs of housing should be equal, though the higher income couple may CHOOSE to live in a less modest home. Were you to live on our joint income, you would be saving far more that 20% of your income! DAvid FT: Yes saving 20% will put you ahead, David Chilton has shown that 10% makes a huge difference. However, for two families living in the same economy, it should be easier for the family with greater disposable income to save larger percentages. Both pay similar rates for necessities such as heat, light, & staples. The costs of housing should be equal, though the higher income couple may CHOOSE to live in a less modest home. Were you to live on our joint income, you would be saving far more that 20% of your income!

DAvid

]]> By: ThickenMyWallet http://www.milliondollarjourney.com/financial-goals-progress-june-2007.htm/comment-page-1#comment-6287 ThickenMyWallet Fri, 15 Jun 2007 01:24:48 +0000 http://www.milliondollarjourney.com/financial-goals-progress-june-2007.htm#comment-6287 Great to see you are on track! Any particular reason why your RSP contributions are low relative to your savings? I suspect your pension has something to do with it? Great to see you are on track!

Any particular reason why your RSP contributions are low relative to your savings? I suspect your pension has something to do with it?

]]> By: FrugalTrader http://www.milliondollarjourney.com/financial-goals-progress-june-2007.htm/comment-page-1#comment-6259 FrugalTrader Thu, 14 Jun 2007 15:20:27 +0000 http://www.milliondollarjourney.com/financial-goals-progress-june-2007.htm#comment-6259 Hi David, yes, I agree. But my opinion is that whatever income level that you are currently in, saving 20% of your income will put you ahead. Hi David, yes, I agree. But my opinion is that whatever income level that you are currently in, saving 20% of your income will put you ahead.

]]> By: David http://www.milliondollarjourney.com/financial-goals-progress-june-2007.htm/comment-page-1#comment-6258 David Thu, 14 Jun 2007 15:11:35 +0000 http://www.milliondollarjourney.com/financial-goals-progress-june-2007.htm#comment-6258 It would also appear that some of your goals are easier to reach due to your income. Based on your numbers, you are earning about 150% - 160% of the average Canadian family income. Having two professional incomes, and sensible spending vs. savings goals, should put you well on the way to a secure financial future. DAvid It would also appear that some of your goals are easier to reach due to your income. Based on your numbers, you are earning about 150% – 160% of the average Canadian family income. Having two professional incomes, and sensible spending vs. savings goals, should put you well on the way to a secure financial future.

DAvid

]]> By: FrugalTrader http://www.milliondollarjourney.com/financial-goals-progress-june-2007.htm/comment-page-1#comment-6254 FrugalTrader Thu, 14 Jun 2007 12:54:26 +0000 http://www.milliondollarjourney.com/financial-goals-progress-june-2007.htm#comment-6254 Hey Mike! My returns fluctuate like crazy because I'm a stock picker. The RRSP's are 40% indexed, the other portion are dividend stocks and a few small caps. The small caps are where most of my return has come from. Yes, they are year to date returns. Hey Mike!
My returns fluctuate like crazy because I’m a stock picker. The RRSP’s are 40% indexed, the other portion are dividend stocks and a few small caps. The small caps are where most of my return has come from. Yes, they are year to date returns.

]]> By: FourPillars http://www.milliondollarjourney.com/financial-goals-progress-june-2007.htm/comment-page-1#comment-6250 FourPillars Thu, 14 Jun 2007 12:44:44 +0000 http://www.milliondollarjourney.com/financial-goals-progress-june-2007.htm#comment-6250 What are you invested in? Your returns are pretty good - I'm assuming they are year-to-date returns? Mike What are you invested in? Your returns are pretty good – I’m assuming they are year-to-date returns?

Mike

]]> By: FrugalTrader http://www.milliondollarjourney.com/financial-goals-progress-june-2007.htm/comment-page-1#comment-6247 FrugalTrader Thu, 14 Jun 2007 11:13:06 +0000 http://www.milliondollarjourney.com/financial-goals-progress-june-2007.htm#comment-6247 Hey Financial Blogger! No, I don't include the site income in the passive income section because I don't consider it passive income. I consider it a low paying, high labour, second job. :) I keep blogging because of my passion for finance and the community it creates, not b/c of the small amount of money it brings in. Hey Financial Blogger! No, I don’t include the site income in the passive income section because I don’t consider it passive income. I consider it a low paying, high labour, second job. :) I keep blogging because of my passion for finance and the community it creates, not b/c of the small amount of money it brings in.

]]> By: The Financial Blogger http://www.milliondollarjourney.com/financial-goals-progress-june-2007.htm/comment-page-1#comment-6245 The Financial Blogger Thu, 14 Jun 2007 10:29:01 +0000 http://www.milliondollarjourney.com/financial-goals-progress-june-2007.htm#comment-6245 Congratulation, you seemed to be pretty on track! It is a good things to set realistic goals at the beginning of the year. You have better chance to make it. Out of curiosity, I checked your passive income breakdown and I didn't see any income from your site, did you forget them? FB. Congratulation, you seemed to be pretty on track!
It is a good things to set realistic goals at the beginning of the year. You have better chance to make it.
Out of curiosity, I checked your passive income breakdown and I didn’t see any income from your site, did you forget them?

FB.

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