Making around $155,000 together, Dave and Annie have recently entered a new chapter of their lives: becoming parents.
“Larger homes in the area are now well over a million and out of price range,” Dave said. “ want a forever home, but we don’t want … to be house poor.” Dave and Annie were fortunate to buy a starter home in the Waterloo Region about three-and-a-half years ago that has basically doubled in value. They would like to buy a forever home, but are concerned now that prices are over $1 million.
They are both contributing to group RRSPs at work. I would only contribute what is required for Annie to get the maximum matching contribution from her employer and otherwise focus their other retirement saving in Dave’s name. His marginal tax rate is about 43 per cent meaning a $43 tax refund on the first $100 of his RRSP contributions.
Want better? Demand better! Start with this: Living wages pegged to productivity, dignity at work and the possibility of social mobility, or gtfo poverty exploiters! Mass mobilization, general strikes and direct action! No war but class war! You want a future? Deserve it.