You graduate from university at 25 years old, and immediately get a job where you earn $3000/ month (after taxes). You have student loans, a little credit card debt (both compounded monthly, but this is the yearly interest rate). You have the following goals

1. Live with significant other (ie no other roommates) by 30 years old (don't worry about extra costs for children)

2. Be able to retire between 60 and 65 years old, and live comfortably (IE about $3000/ month income, don't think about CPP or other items, and assume your employer doesn't contribute to an RRSP or anything for you)

Assume you get a raise of $500/ month every 5 years, that you keep the same job until you retire, that all taxes come out BEFORE you see your paycheque and that inflation isn't a thing. Clearly state any other assumptions you make (splitting costs with significant other ect.). For the 20 year gap between 35 and 55, assume all costs/ investment plans stay the same but that interest accrues.

Minimum Payment/ interest rate month 6.45% APR compounded 1% Of Existing Balance Student loan debt monthly each month 19% APR, compounded 4% of Existing Balance Credit card debt monthly each month $3000/ month (after Starting Salary taxes) N/A Monthly Housing Costs (include heat, lights, water in estimate) N/A Monthly Entertainment Budget (include internet/ cell phone costs here) High Interest Savings compounded Account monthly