💰 It’s not about how much you make, it’s about how much you keep and invest. Sometimes the fastest way to change your financial future isn’t a raise… It’s a shift in your savings rate. Why don’t you run some simple math 👇 A part-time job in Canada at $____/hour, ____hours a week = about $________a year. After tax, maybe $________. If you invest that $________ every year, that’s enough to: ✅ Max out your TFSA ✅ Still have ________ left to invest in your FHSA, RRSP or non-registered account Now here’s the impact: If your core income (main job) already lets you save 10%… adding that part-time income could double or triple your investing rate. Over 20 years at 7% returns: • Saving $______/year = $_______K+ • Saving $______/year = $________K+ That’s the difference between comfortable and financially independent. Most people focus on earning more. But real wealth comes from increasing your savings and investing rate, even if that means temporarily picking up extra hours or a side gig. Because every extra dollar invested today… Buys you time, freedom, and choices tomorrow. 🕒 Run the numbers and share below
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Scott B
@passive_investor604 · 1yr
@retired I honestly wanna just say thank you. This is the type of posts that make Blossom shine and are what I mainly believe it to be meant for. Not arguing and slinging mud at others because of how they invest or what they chose to teach and people follow. Let people be and be growth or passive or Hybrid...single stocks, ETFs or Covered Calls whatever the choice is people will learn and will find their investment way that works for them. Let people be. Just state and share your information and what people do with it, let them do it and hopefully you are doing it to help, but if you don't like another form of investing or whatever, keep it to yourself. This post is just awesome and means a lot @retired you are posting things that get people thinking and feeling. Again thanks for another awesome post and appreciate you helping us out here who are out here finding their way. You mentioned you are too shy for YouTube but you seem to be what is needed, would be great to hear and see you educate or just provoke thoughts, others may not have thought, due to their lack of experience. Apologies for the rant but had to say. Thanks again for your well thought out posts.
Carter the Investing Cat@takoyaro · 1yr
I think one of the biggest benefits of working a side job is that it occupies your free time. Instead of being bored and spending money or lazily watching TV, you’re being productive and earning money.
Le Corb@lecorb · 1yr
@retired I appreciate your posts. I would say you’re on the other side of experience and being in financial control. I agree entirely that your savings rate is the single most important metric. As the saying goes, “you measure what matters”. In 1997 when I started working my wife and in started a little spreadsheet that at first budgeted our annual spend, but religiously for 28 years now, we would update at the end of the year how we performed on our income, expenses and savings. At first we were 7%, but managed to get it quickly to over 15% of our gross income, and then as our incomes rose we were running over 34%. I would say after a life of working 25 years, managing expenses and lifestyle such that your savings rate can hit 15% is when you see faster results in your overall ability to invest. At 7% annual returns, this truly does snowball over decades.
