I just figured out my Latte Factor –
I have a good job (~100K per year), I put $500 per month into RRSP and 10% of my net into a high interest savings account for emergenices (I haven’t had a real emergency yet). I have no credit card debt as I pay off the cards every month. I thought I wasn’t doing too bad, until I read Start Late, Finish Rich. I realized that just because I didn’t have any debt, didn’t mean that I was on the right track for Finishing Rich.
After reading the book, I stopped purchasing bottle water that I drank by the caseload weekly. I stopped the excessive credit card spending. I started putting $1000. per month into my RRSP. I have a plan to work up to $1500. per month. I started putting 10% of my gross into my emergency fund.
Thank you so much for the good read and advice.