Current plan:

TFSA 20% (XEQT 100%)

Cheqing 20% (1.25% interest)

MMP 30% (2.5% interest, but should i open it in an TFSA or in an non registered account?)

For Fun money 30%

This is my plan for 1-2 years then open an FHSA using XGRO 100%

How do you think I should improve my plan? is a MMP even worth considering for my age (23 M) ? is it worth opening an FHSA rn than waiting? should i change my percentage values?

TLDR

Idk if i should add these for more

additional help/details but its here.

paycheck: bi weekly (vary between 1.5k to 1.7k)

pay: 25.11

shifts 7.75 hrs

  • 30% for fun money seems pretty high tbh, especially if you're trying to build wealth early. I'd probably bump that TFSA contribution up and maybe drop fun money to like 15-20%. Also yeah open that FHSA asap, the contribution room doesn't carry forward like TFSA so you're basically losing free money by waiting

    parent

    30% for fun money i can probably have it go down to a 25%, at least for noww, just to build good habits of saving and planning purchases.

    FHSA the room that ur talking about is definitely right to add because i get tax returns i think?

    may i know your thoughts on a MMP? whether opening it in a non registered account or a TFSA?

    parent root