Maxed Out Registered Accounts
I’m finding myself in a good problem to have. 29M and as of this year I have maxed out my YTD lifetime room in TFSA, RRSP and FHSA for 2024 and did a lump sum beginning of the year so now my 2025 room is used up as well (outside of RRSP but 18% comes off my income automatically). All are in index portfolios with RRSP/TFSA being 100% equity and my FHSA in 60/40 equity/bond split.
I was lucky enough to have gotten myself into a YouTube worm hole when I was younger and have really prioritized saving and maxing these accounts out. TBH, I was obsessed with it so I know this is not the norm.
Now that I have reached this goal I do not know what to do. Logically my next goal is to buy a home. Since FHSA came out my goal has been to not use anything from RRSP or TFSA and use only the 40k in FHSA plus savings in non registered accounts to do this. ( I want to retire as young as possible)
Reason for the post is I try to always think 2-3 years ahead and once this final goal of purchasing a home is done, I have no idea how I should be investing my money.
Ideally I’d be paying down mortgage as fast as possible but besides that, is there any suggestions on what to do with money once you have reached this point?
Before people start coming at me, I have not received a single penny from family/inheritance. All money invested I have earned on my own. I’ve been lucky enough to find a good career in software sales where I live off my base and invest all commissions (which can be 2-3x my base in good years).
Posted Jan 26, 2025, 3:59 AM UTC