How much do you put into RRSP's each month?
Thread Starter
1000 Watt CAFz'r
Joined: Nov 2000
Posts: 1,020
Just doing a little budgeting and was curious as to how much everyone puts away in an RRSP or mutual funds each month.
I'm looking to put away between $200 - $400 a month for 30 years or whatever. Not looking to use it to buy a house or car or anything like that.
I'm looking to put away between $200 - $400 a month for 30 years or whatever. Not looking to use it to buy a house or car or anything like that.
Guest
Posts: n/a
You should be able to retire pretty nice ith $300 to $400 a month. I usually just take out a loan at tax time, and it basically paysn for itself with the extra on the tax return. I took out a $4000 loan and it got me an etra $3800 on my return, so I only have to pay $200 extra.
50 Watt CAFz'r
Joined: Jun 2003
Posts: 372
Originally posted by DWVW:
You should be able to retire pretty nice ith $300 to $400 a month. I usually just take out a loan at tax time, and it basically paysn for itself with the extra on the tax return. I took out a $4000 loan and it got me an etra $3800 on my return, so I only have to pay $200 extra.
You should be able to retire pretty nice ith $300 to $400 a month. I usually just take out a loan at tax time, and it basically paysn for itself with the extra on the tax return. I took out a $4000 loan and it got me an etra $3800 on my return, so I only have to pay $200 extra.
Thread Starter
1000 Watt CAFz'r
Joined: Nov 2000
Posts: 1,020
$4000-$5000 a month or year?
You're allowed to put in 18% of your total income into an RRSP right? $4000 a month would mean you would make somewhere in the area of $260,000 a year. That's awesome! Do you need a secretary/lackey/etc. by any chance?
You're allowed to put in 18% of your total income into an RRSP right? $4000 a month would mean you would make somewhere in the area of $260,000 a year. That's awesome! Do you need a secretary/lackey/etc. by any chance?
