Sunday, 15 March 2015

Tangerine Investment

           Last weekend I set myself up for my very first Tangerine investment! I had been looking at and researching their different funds for some time now but never took the leap – until now that is.

It was so simple and easy as I’m already a Tangerine customer (we have our vacation fund with them) so really I just needed to answer a few questions about my risk profile, etc & the application suggested one of their funds. It did spend the weekend waiting pending approval but Monday after work I logged into my account and seen it was approved with my initial contribution set to come out that evening. Super impressed with how quick the entire process was and user friendly.

I also set up an automatic contribution that coincides with my payday. We do this with all of our investments and have gotten so used to not having that money we do not miss it.

As it stands this is what our investments look like:

-       $100 bi-weekly M’s RRSP #1
-       $100 bi-weekly M’s RRSP #2
-       $200 bi-weekly M’s TFSA
-       $100 bi-weekly G’s TFSA
-       $223 bi-weekly G’s pension (This is a Defined Benefit Plan but I do not include this as if he were to quit before retirement we would only get the cash he’s paid into it personally)

That’s $18,800 a year! Crazy how those little amounts add up. We started investing on our own only one year ago and as we got more comfortable with our budget, knowledgeable where our money goes and with each pay raise we added a bit more to our long term investing.

Alicia of Financial Diffraction had an amazing post this week that really got me thinking about our long term investments (Link to post: Saving is only half the battle). What was extremely motivating to read was when she started to talk about her savings amount once her debt it paid off:
"...$18,200 per year. Would you believe me if I told you that if I did that for the next 36 years (I’m only 29, remember), at an 8% return, I’d end up with $3.4 million dollars by age 65!"
I knew compound interest was good (when it comes to investing) but I never actually did the calculations. I don't know how realistic 8% return is but $3.4 million is an impressive amount to accumulate! 

We have a really good balance right now & I’m pretty confident in the foundation we are laying for ourselves. G is 25 & I'm only 24 so there is a lot that can happen between now and retirement - regardless I’m really proud of our start

- M


  1. That's an awesome savings rate! To make you feel better about the 8%, a 6% return will still get you over $2 million :) so even if some months or years are lean you will still have a great nest egg in the end!

    Thanks for linking to me - greatly appreciated!

    1. No problem, it was an awesome and motivating read :)