Thursday, July 29, 2010

RRSPs 'n Shiz.

I’ve begun saving for retirement.

There, I said it.  I’m in my early 20’s and I should be well on my way.  Krystal was great.  I’ve followed her advice and am just putting away $100 per month.  I know it doesn’t seem like much, but know it will add up in the end.

Using this calculator here {yeah, I’m gung-ho TD.  Deal with it.}, it says that I’m going to need $362.30 per month to reach a $1,000,000 plus retirement goal.  That’s pretty good.  I’m going to most def amp up those payments as I approach retirement, but am keeping it low now because of my reduced salary.

Once I start making more money, I’ll increase the percentage of my income going to my RSP.  I’m also going to be investing the RSP money in different vehicles; I may hold mutual funds long term, and take some for equities when the market goes back on an upswing.

For those of you who have RRSPs, how is the money invested?  Or, how do you plan to invest it?

*Canadian Girl


  1. All of my RRSPs are invested in TD indexed e-series mutual funds! I also have some $$ in my TFSA. In the future I'd like to invest a bit in the stock market, but for now my mutual funds are fine. :)

  2. I'm with Krystal, my money goes into Mutual Funds and a little in TFSA. I put away the same as you, just $100 a month but I've been doing it since I was 18, and already have a nice little nest egg going on!! Yeah compound interest!