Torontoist: Bills, Bills, Bills

Marc Lostracco

Mon, 19 May 2008 10:16:53 -0500

And start an RSP early. One of the smartest things I ever did was start an RSP at the age of 21—plus, it went a long way to buying my first home (you can borrow interest-free against your RSP once). I was shocked recently when I found out two of my friends in their mid-thirties didn't even know what an RSP was. They should teach that in high school, if you ask me. I would also like to take this opportunity to slam Mackenzie, because I had my RSPs with them and couldn't for the life of me get anyone to return my calls or answer my emails, so I had to pay a significant penalty—like, in the thousands of dollars—to transfer my RSPs to another company because I was dissatisfied with their service. I couldn't just transfer—I had to cash them out and immediately establish a new RSP account, and they couldn't care less that I was pissed at them. Too small a fish.

andrewpmk

Mon, 19 May 2008 07:10:14 -0500

Anyone can build up a fortune of $400000 in their lifetime if they are smart. All you need to do is save $2 a day, or about the cost of a coffee and donut at Tim Hortons (substitute them with the cheap stuff from the grocery store). Put that money into an index fund yielding 10% per year on average, and in 40 years when you retire you will have about $400000 in cold, hard cash. Save more, and you will have even more when you retire.

McKingford

Sat, 17 May 2008 06:00:04 -0500

You know why they're smiling? Because they know how much there was *before* they turned in $400k of it...

PickleToes

Sat, 17 May 2008 02:41:44 -0500

I guess I'll have to find somewhere else to buy my cocaine now.

Marc Lostracco

Fri, 16 May 2008 23:31:42 -0500

The TPS anonymized it, for whatever reason—probably because s/he might still be undercover.

katiech

Fri, 16 May 2008 22:37:06 -0500

wtf happened to that lady's face?