bradm Posted February 28, 2007 Report Share Posted February 28, 2007 Today's question: Do you have and contribute to a Registered Retirement Savings Plan? If so, are you maximizing your contributions? (And for any American skanks, do you have an IRA or a 401-K?)I have an RRSP (and have had since about 1987 or 1988), and have contributed the maximum I'm allowed to it every year I can, certainly every year of the last 15 or so.Aloha,Brad Link to comment Share on other sites More sharing options...
Booche Posted February 28, 2007 Report Share Posted February 28, 2007 Hahahahaha, do you really believe hippies think about their future?????? Link to comment Share on other sites More sharing options...
bradm Posted February 28, 2007 Author Report Share Posted February 28, 2007 Hahahahaha, do you really believe hippies think about their future?????? It's more I'm wondering if hippies have any money they're not spending on shows, drugs, patchouli, or goats. Aloha, Brad Link to comment Share on other sites More sharing options...
Northern Wish Posted February 28, 2007 Report Share Posted February 28, 2007 Have; yes.Contribute; yes.Set standards for our peers; no.I put away 10% per year (actually 6%, employer gives me 4%).I wish I put in more, my parents would match anything I put in up to $5000 per year just because they think it so important. Sean Link to comment Share on other sites More sharing options...
ollie Posted February 28, 2007 Report Share Posted February 28, 2007 I have some money in RRSPs but I haven't contributed in a few years. I'm not sure I buy into the whole concept. Link to comment Share on other sites More sharing options...
phishtaper Posted February 28, 2007 Report Share Posted February 28, 2007 my parents would match anything I put in up to $5000 per year they looking to adopt? Link to comment Share on other sites More sharing options...
phorbesie Posted February 28, 2007 Report Share Posted February 28, 2007 no, not reallyi have an RRSP account collecting dust somewhere... Link to comment Share on other sites More sharing options...
Booche Posted February 28, 2007 Report Share Posted February 28, 2007 I'm not sure I buy the whole concept.God bless your quirks Oliver. You provide me so much entertainment that I often wonder if I should pay you. Link to comment Share on other sites More sharing options...
ollie Posted February 28, 2007 Report Share Posted February 28, 2007 I'm not sure I buy the whole concept.God bless your quirks Oliver. You provide me so much entertainment that I often wonder if I should pay you.Just put it into my RRSPs please. Link to comment Share on other sites More sharing options...
Birdy Posted February 28, 2007 Report Share Posted February 28, 2007 I have a RRSP and contribute about %10 of my earnings into it. My employer contributes 7%. I've never maximized though. I'm thinking i'll maximize in 2008. My dad lectured me on this for over 45 minutes last night. Link to comment Share on other sites More sharing options...
Booche Posted February 28, 2007 Report Share Posted February 28, 2007 My dad lectured me on this for over 45 minutes last night.Get him to give Ollie a phone call tonight. Link to comment Share on other sites More sharing options...
Esau. Posted February 28, 2007 Report Share Posted February 28, 2007 I have one through my union (Great West London Life), since 1990. Every hour I work, I contribute five dollars ($5 an hour) into the RRSP, there is a weekly limit but I can't remember what it is. You really only hit it during the 7 day a week/12 hr a day jobs.In the past I have maxed it out but I haven't in recent years with not working as much. Link to comment Share on other sites More sharing options...
boiler Posted February 28, 2007 Report Share Posted February 28, 2007 5 bucks an hour to my pension and I work a lot of hours! RRSP would be a waste for someone like me because I'd get taxed like a mofro when it'd be time to collect.That being said a lot of group pension plans have taken a hit over last few years. The government has been enforcing strict solvency rules for group pensions due to some pension plans going broke in the country. The problem is, the troubled pension plans (ie Stelco) are usually single employer pension plans, whereas mine is a Multiple Employee Pension Plan (a MEPP).I can easily have 5 or 6 employers a year. The chance of 5 or 6 companies going broke (especially in today's construction boom)is pretty slim, however the gov has decided to categorize my plan (and all other MEPP's) the same as single employer plans. So my pay back has dropped from 3% to 1.5% and they have pushed back my retirement date three years. Link to comment Share on other sites More sharing options...
Jaimoe Posted February 28, 2007 Report Share Posted February 28, 2007 I'm in a union and I invest in GIC's. I used to invest a big lump sum when I was single and had money, but for the last six years all I can manage hovers around $1500-$2000 per year - I pay by the month. Link to comment Share on other sites More sharing options...
Guest Low Roller Posted February 28, 2007 Report Share Posted February 28, 2007 You betcha! RRSPs, mutual funds, GICs, stock portfolio, UK pension fund, off-shore account(s)... It's so important to have a financial plan, otherwise you're just missing out. The interest a bank gives you is laughable, why waste time with it?I'm rich biatch!Chappelle voice> Link to comment Share on other sites More sharing options...
Whitey Posted February 28, 2007 Report Share Posted February 28, 2007 I contribute twice a month to my RRSP plan, but I have not maxed out my contributions yet. I also contribute to the Teacher Pension Plan. My contribution to that was just increased by 2% because of the influx of new teachers into the system. As teachers, we can not contribute as much to our RRSPs because of our pension. Link to comment Share on other sites More sharing options...
RayRay Posted February 28, 2007 Report Share Posted February 28, 2007 I contribute to my RRSP's regularly, but have never maxed out because I also have a contribution pension plan at my work. I started my RRSP's the day I found out that my retirement date would be the year 2042 (at age 65). It was too depressing so I needed fast tracking plan. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now