Just Starting Out
Your next five years will compound, one way or another.
The financial decisions you make now will matter for 40 years. Here's where to start.
What nobody told you
The one thing nobody told you about your first real paycheque
Your first real job is the most important financial event of your life, and the reason has little to do with what you earn. What matters is what you decide to do with the money before the habits form.
Most young men in their first job do the same thing: they spend up to their income. The car gets better. The apartment gets bigger. The lifestyle settles into something that consumes exactly what comes in. It feels natural because everyone around you is doing it. But five years from now, the man who kept his expenses flat and directed the difference toward a TFSA or RRSP will be in a fundamentally different position than the man who didn't, even if they earned exactly the same income.
You're early. That's the advantage. Compound interest doesn't care how motivated you are. It only cares when you started.
The cost of a 10-year delay
A Canadian maxing their TFSA ($7,000/year) from age 22 instead of 32, earning a 7% average annual return, arrives at age 65 with roughly $347,000 more, for the same total contributions. Starting early is not a small advantage. It is the advantage.
The two accounts you need to understand
TFSA and RRSP in plain language
Canada gives you two powerful tax-sheltered accounts. Here's what they are and which one to use first.
Tax-Free Savings Account
You contribute after-tax dollars, your money grows tax-free, and you pay zero tax when you withdraw. There's no income requirement; you can use it no matter what you earn. The 2026 contribution limit is $7,000 (plus any unused room from previous years).
Best for: most people under 30, emergency fund, medium-term goals, or if your income is under ~$55,000
Run the comparison for your situation →Registered Retirement Savings Plan
You contribute pre-tax dollars (you get a deduction now), your money grows tax-sheltered, and you pay tax when you withdraw in retirement. Most valuable when your current income is higher than your expected retirement income: the arbitrage is the point.
Best for: income over ~$65,000-$80,000, higher marginal tax rates, and long-term retirement savings
See which makes sense for you →Free
The Steward's Map
Eight money moves in order, on one page. In your first job, you will meet the first six of them inside a few years, and the order is the part nobody tells you.
- Move 1, Give First: set your giving at the top of the paycheque, while the bills wait their turn
- Move 2, The First $1,000: the buffer that keeps the first surprise off a credit card
- Move 4, The Free Money: the full employer RRSP match, the best return you will ever get on a contribution
- Move 6, Invest On Purpose: broad index funds, TFSA first for most men, automatic and monthly
Free. The map is on the site in full. The email brings the fill-in worksheet with it.