Saving Made Easy -- No Nonsense Version

Saving Made Easy (No Nonsense Version)

Kirk Holding a 28 Pound Brick of Gold

Have someone else take care of saving money for you.  

Go on and live your life… be a solid citizen… party your brains out… divorce… marry ten times… be a politician… be homeless… be rich… do whatever you want to do or can do with your life.  During your life you will have savings to help you do all, or any, of the above. You may even save some money for later in life… like next week. 

If you have a job your company may have a savings plan.  The way it usually works is that the company will take the money right from your pay without you ever seeing it and put it in a savings plan.  Many companies will contribute some of their own money.  You just got a raise.  You are getting more money without doing a thing.

Some companies have a stock purchase plan.  It usually works the same as the savings plan above but your company will buy shares for you instead of putting the money in a savings plan.   If you don’t like the idea of being in the stock market just take the money out regularly and spend it or save it or (my personal favourite) spend some of it and save some of it.

If you do not work for a company with a savings plan, then check with a bank (but be careful of their “free” investment advice) to see if they can help.  Sadly, the banks will not match your savings like a company will. 

That’s it for the savings plan.  Now for some advice from a worldly scholar… me.

Start small.  I started with $25.00 per month, got laid off after only one month and had to suspend the savings program.  I still retired at 53 years old.

Increase the amount you contribute in small increments over time when you find out that you do not miss the money that goes into savings.

Use at least some of your savings for things you want now.  Saving for retirement is admirable but I want to live well my entire life including when I am young and when I am retired. 

Kirk at the Canadian Mint in Ottawa