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Like the title say's, what are you currently saving for?

I am currently saving to invest in real estate, either an investment property to rent out for years to come (long term project) or a property that I can flip in the coming months.

FYI: I am a Real Estate Broker

So, WHAT ARE YOU SAVING FOR? Discuss!
 

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End goal=Retirement.

On track to pay off $9K car debt by April 1. 0% interest ends thereafter
Everything else goes in mortgage. Saving to upsizing in 1-2 years.
If good deals come by in the Stock market, we just our HELOC.
 

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I am currently saving - my savings! I am NOT currently saving to spend. I need to beef up my three savings tiers. The structure and buckets are in place, but they are not full enough to protect against life's emergencies. Bucket 2 had to be used this summer and is empty. My priority continues to be on filling up these buckets for at least the next 8 months. This gives me freedom and control over my own life and I am therefore not dependent upon others to keep food on my table in case of adversity.
 

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Royal mail,

Since you're always referring to your savings tiers, why not add a signature with a link to a post where you explain yourself more clearly. Just a suggestion! You say people should search for your old posts for more info, but that is not particularly easy.

Just a suggestion.
 

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We are not really saving for anything.

All of our cash goes towards the mortgage.

Should be mortgage and totally debt free in less than three years.

Then we will look at what is the plan for future employment and retirement.
What will happen if you suffer job loss in the next three years?
 

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We are not really saving for anything.

All of our cash goes towards the mortgage.

Should be mortgage and totally debt free in less than three years.

Then we will look at what is the plan for future employment and retirement.
same place I am... despite cheap money, I'm just focusing on the last chunk of the mortgage.
Right or wrong, it's where my head is at...
 

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We also do the three tiered savings, although I've never thought of it that way.

We have a rainy day fund which is a few thousand.

Then we have our saving for things such as annual automobile insurance (I detest paying a fee for monthly payments to come out), a new computer, vacation, new car, etc.

Then we have savings towards retirement such as RRSP's, dividend stocks (false DRIP).

We also have savings towards our next home, because when the time comes to sell (here in Winnipeg) and buy in our next posting (could be Halifax) we will need to sock away as much cash towards the downpayment as possible to avoid paying mortgage interest. Or at least avoid paying as much interest as we would otherwise. Our current house is paid off in full. Not sure what tier this pot of savings would fall under - perhaps 2nd tier.
 

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Well done addy - A1. 100% right. There is nothing I can say to have you improve your current situation other than to simply save more for the buckets. As for your next house, what you are doing matches exactly what I always suggest to people wanting to take on a special project (new house, baby, new car etc) - save in advance for that (as you are doing) in a separate "account" so that when you get that "item" you will be ready to pay for it. A lot of people make the mistake of immediately raiding ALL of their savings buckets and even hitting up family for money in cases such as this. Bad idea, because if you use up all your money to address that item, you'll have NO protection for yourself in the event of job loss, needing a new car etc. right after you've cleaned out your savings.

You're doing very well - truly an inspiration.
 

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ER has been my primary savings goal for several years now... I hadn't even thought of it until I stumbled upon some ER/Finance blogs that flicked the switch in my mind that, yes, this is actually possible.
 

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We are really concentrating on paying down our LOC very aggressively...should be completed by early spring. On top of increased mortgage payments and RESP, we have starting saving for Christmas:eek: Trying to sock away $2K from this pay period until early December to make it thru the holiday with out using any credit cards!
 

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+1 for Christmas. Already started a saving. The recent stat and OT pay will be thrown in as well.

To save more money, we'll be using $40 PC points to shop clothes at Joe for the little kids, (neice and nefew) and about $36 Shoppers points to buy more gifts. I will also be re-gifting red wine and a few other things, like a candle kit my wife never opened. We already started a budget and wrote it down, two weeks ago. I asked my wife to do it :)

We start early because our shopping deadline is Dec 1. This way, we stay out of the malls and stores when they are extremely busy.
 

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+1 for staying out of the malls in December!!! I've been that guy, on Chritmas Eve rushing around spending like a Rock Star....Not a pretty sight!!
 

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The scariest part about malls after Thanksgiving and leading up to Christmas is the parking lot. It seems that drivers stop being cautious as soon as they enter the property, tear around blind corners going the wrong way, compete for parking spaces, have people stand and protect parking spaces etc. I'll be darned if I'm going to fight with people to spend my money.

Then there are all the unhappy returns in the following week. I feel sorry for the floor staff and cashiers who have to work big box retail in December.
 

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I'm saving for a downpayment to buy my first house (or possibly condo). Still not even close because most of my money is being used to pay down my OSAP loan (should have that fully paid off in about 8 months then I'll be completely debt free).
 

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- Shares in employer's business - they have an excellent record of growth and the company is entirely employee owned.
- Paying down mortgage - FREEDOM!!!
 

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- Shares in employer's business - they have an excellent record of growth and the company is entirely employee owned.
- Paying down mortgage - FREEDOM!!!
[buzz kill]

Be careful with this, in the event that the business does go south, you're out of both your job and your investment at the same time. This happened big time for a lot of employees of Enron.

[/buzz kill]

I'm saving for:
- debt repayment - "Saving interest"
- mortgage pay down
- Lotus 7 replica Kit
- gas fireplace for the living room
 
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