| furball |
| (Post Master Sr) |
| 03/03/14 07:46 AM |
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Last day for RRSP contributions TODAY (midnight)
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Anyone doing last minute shit?
I won't have access to my TurboTax until tonight, so scrambling to find an online calculator that'll show me what my return would be if I contribute $x, etc...
(TurboTax had a neat slider calculator that used last yr's figures, and you can figure out the sweet spot where you end up paying $0 in taxes, etc...)
| Risky Business |
| (Post Master Supreme) |
| 03/03/14 08:00 AM |
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Re: Last day for RRSP contributions TODAY (midnight)
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I did some additional contributions last week.
| SW20_MR2 |
| (Post Master Sr) |
| 03/03/14 08:06 AM |
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Re: Last day for RRSP contributions TODAY (midnight)
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Dropped off a cheque to my financial advisor last night. I should be getting a good return, which I will either dump into the mortgage or save for our expenses when we buy a house.
| Senor Eduardo_82 |
| (Post Master Supreme) |
| 03/03/14 08:19 AM |
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Re: Last day for RRSP contributions TODAY (midnight)
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Maxed out my contributions back in December. Actually, I ended up overpaying by $150 or so due to the early paycheque we received around Christmas.
But as always, no tax refund for me.
| Screamin Type ARGH! |
| (Post Master Supreme) |
| 03/03/14 08:25 AM |
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Re: Last day for RRSP contributions TODAY (midnight)
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Already transferred most of my money to swiss and cayman bqnk accts brah
| Euphoricuck |
| (Post Master Supreme) |
| 03/03/14 08:49 AM |
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Re: Last day for RRSP contributions TODAY (midnight)
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I make 11/hr . nopoint.jpg
| Risky Business |
| (Post Master Supreme) |
| 03/03/14 09:27 AM |
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Re: Last day for RRSP contributions TODAY (midnight)
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Originally Posted By: eddie _82
Maxed out my contributions back in December. Actually, I ended up overpaying by $150 or so due to the early paycheque we received around Christmas.
But as always, no tax refund for me.
But as always, no tax refund for me.
How do you not get a tax refund if you are T4 employee? Did you submit an application for reassessment of your income tax based on your contributions so they hold less off your pay cheque because you always max out?
Dang son, that's some next level financial discipline y0
| LNXGUY |
| (Post Master Supreme) |
| 03/03/14 09:43 AM |
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Re: Last day for RRSP contributions TODAY (midnight)
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I can't imagine maxing out my RRSP contributions, lol @ 2013 assessment.
| Screamin Type ARGH! |
| (Post Master Supreme) |
| 03/03/14 10:01 AM |
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Re: Last day for RRSP contributions TODAY (midnight)
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Originally Posted By: LNXGUY
I can't imagine maxing out my RRSP contributions, lol @ 2013 assessment.
| Wildout |
| (Post Master Jr) |
| 03/03/14 10:03 AM |
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Re: Last day for RRSP contributions TODAY (midnight)
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Originally Posted By: Euphoric
I make 11/hr . nopoint.jpg
| Risky Business |
| (Post Master Supreme) |
| 03/03/14 10:05 AM |
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Re: Last day for RRSP contributions TODAY (midnight)
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Thanks to eddie_82, just adjusted my income tax amounts...no more refunds lol.
| Senor Eduardo_82 |
| (Post Master Supreme) |
| 03/03/14 10:12 AM |
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Re: Last day for RRSP contributions TODAY (midnight)
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Originally Posted By: Risky Business
Thanks to eddie_82, just adjusted my income tax amounts...no more refunds lol.
I did that back when I first went f/t in the fall of 2000. I haven't had a refund since.
Discipline? Not really. Just putting aside a little bit each paycheque and making a few % on it in the meantime. And since I usually put aside more than I owe at the end of the year, it's like getting a little refund anyways.
| Risky Business |
| (Post Master Supreme) |
| 03/03/14 10:13 AM |
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Re: Last day for RRSP contributions TODAY (midnight)
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Originally Posted By: eddie _82
Originally Posted By: Risky Business
Thanks to eddie_82, just adjusted my income tax amounts...no more refunds lol.
I did that back when I first went f/t in the fall of 2000. I haven't had a refund since.
ballin.gif
| hyper-s2k |
| (Post Master Supreme) |
| 03/03/14 10:30 AM |
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Re: Last day for RRSP contributions TODAY (midnight)
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Regular scheduled contribution (bi-weekly) + pre-deduction from work (DPSP / ESPP) = pretty closed to max out my RRSP deduction limit (maybe a few hundred bucks breathing room to be rolled over to next year).
| Risky Business |
| (Post Master Supreme) |
| 03/03/14 10:34 AM |
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Re: Last day for RRSP contributions TODAY (midnight)
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You are all putting in 20K+ in RRSP?
much amaze
| Euphoricuck |
| (Post Master Supreme) |
| 03/03/14 10:39 AM |
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Re: Last day for RRSP contributions TODAY (midnight)
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"refund" . Hayyy guise heres your own money back you couldve been utilizing, but thanks for letting us use it instead.
| Choco 'Nuck |
| (Post Master Supreme) |
| 03/03/14 11:57 AM |
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Re: Last day for RRSP contributions TODAY (midnight)
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Originally Posted By: Risky Business
You are all putting in 20K+ in RRSP?
much amaze
much amaze
Yes...
Originally Posted By: hyper-s2k
Regular scheduled contribution (bi-weekly) + pre-deduction from work (DPSP / ESPP) = pretty closed to max out my RRSP deduction limit (maybe a few hundred bucks breathing room to be rolled over to next year).
Pretty much this.
| iamfob |
| (Post Master Supreme) |
| 03/03/14 01:39 PM |
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Re: Last day for RRSP contributions TODAY (midnight)
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Does it make a difference if you are a dual income family and helps maxing out yoru RRSP contribution every year?
I am not married and have no kid, but after the obligated expenses (mortgage, property tax, utility, gas, insurance, etc) I barely have money left to contribute
iFail in life.jpg
| Choco 'Nuck |
| (Post Master Supreme) |
| 03/03/14 02:35 PM |
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Re: Last day for RRSP contributions TODAY (midnight)
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Honestly, the trick is to take it out pre-tax via salary deductions, you don't even miss it.
| Euphoricuck |
| (Post Master Supreme) |
| 03/03/14 02:53 PM |
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Re: Last day for RRSP contributions TODAY (midnight)
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you have a mortgage?
| SW20_MR2 |
| (Post Master Sr) |
| 03/03/14 03:20 PM |
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Re: Last day for RRSP contributions TODAY (midnight)
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You don't even need to contribute hundreds of $ at once. Even if you only contribute $30 per paycheque, the compound growth will add up over time.
| Senor Eduardo_82 |
| (Post Master Supreme) |
| 03/03/14 03:41 PM |
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Re: Last day for RRSP contributions TODAY (midnight)
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Originally Posted By: Euphoric
you have a mortgage?
lol jealousy
| hyper-s2k |
| (Post Master Supreme) |
| 03/03/14 04:33 PM |
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Re: Last day for RRSP contributions TODAY (midnight)
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Originally Posted By: iamfob
Does it make a difference if you are a dual income family and helps maxing out yoru RRSP contribution every year?
I am not married and have no kid, but after the obligated expenses (mortgage, property tax, utility, gas, insurance, etc) I barely have money left to contribute
iFail in life.jpg
I am not married and have no kid, but after the obligated expenses (mortgage, property tax, utility, gas, insurance, etc) I barely have money left to contribute
iFail in life.jpg
It's not so much a dual income family that helps you save money - but rather, the average living cost per person goes down as you increase the # of people in your household (up to a certain point).
Cue Brampton -- how many families are living under one roof?
There are *some* additional saving vehicles for when you have a spouse and kids; but its no where proportional to how much you spend on supporting them.
In your case, if you want to start saving (while you have your own place); consider getting a roomie and have them defray some of your costs.
| Euphoricuck |
| (Post Master Supreme) |
| 03/03/14 05:32 PM |
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Re: Last day for RRSP contributions TODAY (midnight)
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Originally Posted By: eddie _82
Originally Posted By: Euphoric
you have a mortgage?
lol jealousy
| Senor Eduardo_82 |
| (Post Master Supreme) |
| 03/03/14 06:08 PM |
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Re: Last day for RRSP contributions TODAY (midnight)
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| Risky Business |
| (Post Master Supreme) |
| 03/03/14 06:12 PM |
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Re: Last day for RRSP contributions TODAY (midnight)
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Originally Posted By: eddie _82
Originally Posted By: Euphoric
you have a mortgage?
lol jealousy
| robbbby |
| (Post Master Supreme) |
| 03/03/14 06:24 PM |
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Re: Last day for RRSP contributions TODAY (midnight)
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i contributed $0. Fuck retirement.
| Choco 'Nuck |
| (Post Master Supreme) |
| 03/03/14 11:12 PM |
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Re: Last day for RRSP contributions TODAY (midnight)
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Originally Posted By: robbbby
i contributed $0. Fuck retirement.
New speakers? Whats the dealy yo!
| c2k |
| (Post Master Supreme) |
| 03/04/14 09:36 AM |
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Re: Last day for RRSP contributions TODAY (midnight)
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Originally Posted By: robbbby
i contributed $0. Fuck retirement.
+1
no fucks given this year. too broke as fuck.
| Senor Eduardo_82 |
| (Post Master Supreme) |
| 04/23/14 08:17 AM |
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Re: Last day for RRSP contributions TODAY (midnight)
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Finally got around to filing my taxes. 7 days earlier than last year
| Screamin Type ARGH! |
| (Post Master Supreme) |
| 04/23/14 08:22 AM |
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Re: Last day for RRSP contributions TODAY (midnight)
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Originally Posted By: eddie _82
Finally got around to filing my taxes. 7 days earlier than last year
| Risky Business |
| (Post Master Supreme) |
| 04/23/14 08:46 AM |
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Re: Last day for RRSP contributions TODAY (midnight)
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This thread inspired me to max out my RRSPs yearly and to max out all my unused contribution room that I've accrued from previous years.
Challenge accepted.gif
| Screamin Type ARGH! |
| (Post Master Supreme) |
| 04/23/14 08:48 AM |
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Re: Last day for RRSP contributions TODAY (midnight)
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^ lol ffuuuu that. man the money i'd need to do that
- um yeah NOT happening.
| Denis Si |
| (Post Master) |
| 04/23/14 09:16 AM |
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Re: Last day for RRSP contributions TODAY (midnight)
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RRSP? Ain't nobody got time for that. Real estate investment > RRSP.
Problem?
| Euphoricuck |
| (Post Master Supreme) |
| 04/23/14 09:20 AM |
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Re: Last day for RRSP contributions TODAY (midnight)
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Originally Posted By: Denis Si
RRSP? Ain't nobody got time for that. Real estate investment > RRSP.
Problem?
Problem?
| c2k |
| (Post Master Supreme) |
| 04/23/14 09:21 AM |
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Re: Last day for RRSP contributions TODAY (midnight)
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Originally Posted By: Risky Business
This thread inspired me to max out my RRSPs yearly and to max out all my unused contribution room that I've accrued from previous years.
Challenge accepted.gif
Challenge accepted.gif
Holy fuck.
That's a shitload of $$
Risky Business..
Challenge accepted!
| Risky Business |
| (Post Master Supreme) |
| 04/23/14 09:23 AM |
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Re: Last day for RRSP contributions TODAY (midnight)
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Well it doesn't make sense to do anything else, no point to put money into TFSA or pre pay my mortgage faster until I have gotten the low hanging fruit first. RRSP is best bang for your buck imo (aside from EY bungalow).
| Euphoricuck |
| (Post Master Supreme) |
| 04/23/14 09:24 AM |
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Re: Last day for RRSP contributions TODAY (midnight)
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your tfsa should be maxed out already brah
| Risky Business |
| (Post Master Supreme) |
| 04/23/14 09:29 AM |
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Re: Last day for RRSP contributions TODAY (midnight)
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Why? Markets have rallied quite a bit over the last year, we are definitely at a peak. What's the point of throwing money into an account that shelters capital gains tax when the probability of capital gains in the short term isn't much?
Would rather get my 30% ROI via income tax refunds.
| Euphoricuck |
| (Post Master Supreme) |
| 04/23/14 10:10 AM |
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Re: Last day for RRSP contributions TODAY (midnight)
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fair point, I guess you are baller enough to add as much as you want at anytime
| Wildout |
| (Post Master Jr) |
| 04/23/14 04:07 PM |
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Re: Last day for RRSP contributions TODAY (midnight)
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Originally Posted By: Screamin DC2R
^ lol ffuuuu that. man the money i'd need to do that - um yeah NOT happening.
- um yeah NOT happening.| Simon_the_Pieman |
| (Post Master Sr) |
| 04/23/14 06:16 PM |
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Re: Last day for RRSP contributions TODAY (midnight)
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whats rrsp?
what is retirement?