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Old 02-26-2004, 10:48 AM   #1 (permalink)
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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.
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Old 02-26-2004, 11:10 AM   #2 (permalink)
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100 a month into my credit union at work...all this starving student can afford
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Old 02-26-2004, 11:23 AM   #3 (permalink)
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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.
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Old 02-26-2004, 11:55 AM   #4 (permalink)
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I put $2000 in this year. I want to max them out every year. I can spend lots of coin of the Buick, but I want to be smart enough with my money so I can reitre to the coast before I'm 60.
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Old 02-26-2004, 11:58 AM   #5 (permalink)
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0$

Hopefully it will be more then that next year.
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Old 02-26-2004, 02:49 PM   #6 (permalink)
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$4000-$5000.
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Old 02-26-2004, 02:54 PM   #7 (permalink)
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Quote:
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.
A better way to do it would be to have monthy deduction taken off of each pay cheque pre tax. This will allow you to earn a return through out the year rather than let the government make money off of your money before they give it back. Just a thought.
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Old 02-26-2004, 03:13 PM   #8 (permalink)
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My avdisor told me not to put into RRSPs till I hit the $30,000 tax bracket. She said its not worth it for me in start investing now. [img]graemlins/dunno.gif[/img]
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Old 02-26-2004, 03:16 PM   #9 (permalink)
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$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?
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Old 02-26-2004, 03:55 PM   #10 (permalink)
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None just yet, when I need to I'll consult mysister since she sets up rrspz and such for a living lol
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