Let's talk RRSP's (Or 401K for you Americans out there)
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LUClEN
Members Posts: 20,559 ✭✭✭✭✭
Over the years I have wasted a lot of money. Thousands. Tens of thousand. Arguably maybe even a hundred thousand dollars.
I have decided to put a stop to this though. Part of it is because I am too busy much of the time to even spend money. Another is because I need to start thinking about my future now. The first Resolution on my list for next year is to start an RRSP, which is basically the Canadian equivalent to the 401 K. I've done some calculations and with a modest $450.00 contribution every month from now up until I turn 60, which is 40 years, I can retire at 60 with 1.2 million. Needless to say I am excited as ? for this little plan to unfurl.
Anyone else already started a savings plan for retirement? How much are you putting into it?
And for people who haven't: why the ? aren't you doing this? Do you wanna be a broke mother ? all your life?
I have decided to put a stop to this though. Part of it is because I am too busy much of the time to even spend money. Another is because I need to start thinking about my future now. The first Resolution on my list for next year is to start an RRSP, which is basically the Canadian equivalent to the 401 K. I've done some calculations and with a modest $450.00 contribution every month from now up until I turn 60, which is 40 years, I can retire at 60 with 1.2 million. Needless to say I am excited as ? for this little plan to unfurl.
Anyone else already started a savings plan for retirement? How much are you putting into it?
And for people who haven't: why the ? aren't you doing this? Do you wanna be a broke mother ? all your life?
Comments
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I feel you..no ? but 2013 is d yr i begin my saving plan...now is d time to start thibking about it
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Bury that ? in the woods..
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northside7 wrote: »Bury that ? in the woods..
I hope you mean metaphorically... cause everyone knows burying money is a dumb idea due to the inevitable devaluation of money over time as a consequence of inflation. If you were to bury your money for 40 years you would have much less spending power at the end of it compared to if you would have put it into an account where you are receiving interest.
Compound interest >>> -
I will be new to 401k...who picjs d conpaniea...me or d employer?
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i know @Sion. got one these already
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Are you Young Ice?
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i dont trust that ? ..
im at the point where im ready to invest.. but ? makes me feel uneasy when i cant fully understand sonethin..
cause i grasp ? quit..
and i have a sayin.. anything that cant be explained is a hustle.. -
I dont have a 401k.
I set aside money in brokerage accounts and cds. And of course savings accounts that I never touch.
I just leave them in the bank and let them collect interest. -
i dont trust that ? ..
im at the point where im ready to invest.. but ? makes me uneasy..
I agree...when i heard of all those people losing their savings.. And had to return to work....that was terrible -
I will be contacting you @sion ...i am a ? to investing..but its time to start..schwarb 500 sounds good
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? on some gordon gecko ?
U aint gona live to 25 b
