<prompt> Human: Ive started working at a job that pays 140k a year and after taxes and with all my expenses Id be able to save 60k a year. Since Ive already paid income and provincial tax on the money, over the the years as a resident of British Columbia, will my savings be taxed? Is it different in the US?  <response>: Can only talk about U.S. Money you have saved is not taxed; if that money generates other money -- for instance, your money market account pays interest or your stock pays dividends -- that other money can be taxed.Congratulations on saving a big chunk of your income -- I think thats the single biggest factor of financial success, being able to discipline yourself not to spend money just because its possible. Look into investing it so that it grows, there are a number of threads and articles here about having an emergency fund, enjoying part of your ample money, and how to handle the rest so that it grows into something you can retire on. 