Looking for some advice l, I know I’m in a good spot but wondering how to optimize
Hi everyone,
M31 - Salary is 100K, take home about $5700 a month,
Fixed costs - Rent $1100 (my half, partner pays the other half)
Car insurance $170
phone bill $50
Gas $120ish a month (Fully remote work from home) typically only fill gas once a year
Car paid off
Groceries around $500 - $700 split with partner
Haircut/Gym membership/subscriptions around $317 seems high I know but I cut my hair every week and have 2 different gym memberships. (These are things I like and unlikely to change, I guess you could say I splurge on these a little bit it is what it is)
Here’s the financial scenario.
$15K in my managed TFSA under Wealthsimple
20K in a second TFSA, broken down as so $5000 in loblaws stock(80 shares) $5600 in VDY (80 shares)
$9100 in XEQT (211 shares) I can contribute $100 into my managed portfolio each week and then $300 into XEQT and $200 into VDY each week. Total investing into my TFSA $600 a week. I have about 60K of available room.
FHSA $15K (357 shares) I contribute $300 Bi-weekly all into XEQT. Not really planning to buy a home but you never know so I opened one anyways.
RRSP $21K (481 shares) I contribute $300 bi-weekly all into XEQT
So basically investing about 60% of my monthly income, just want to know whether I should change any of my contribution amounts or what to prioritize, the goal is to not have to touch any of them until retirement but want to maximize the growth on it now in my early 30’s while I can afford to contribute a lot.
Have emergency fund of 6 months saved in a savings account already as well.
Thank you!