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how many of you have RSPs? <reminder>

kuba

TRIBE Member
Just asking.

Do you have an RSP?

Do you contribute each year?

If so, how much do you contribute of your pay per year/month/week?



BY THE WAY:

The deadline to contribute for 2003 is March 1st, 2004

which is in about three weeks.
 

pr0nstar

TRIBE Member
I have an RSP through my work.
I've never had extra cash to take out a RRSP... next year hopefully.

But I think in my RSP I've got about 20k or a bit more ... they take ~200 / cheque out.

pr0nstar
 
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kuba

TRIBE Member
ok lets not get into a contest about money amounts

I was merely asking regarding percentages

what percentage of your current paycheck goes to your retirement fund

if you dont have one, why not?

do you plan on opening one this year?
 

kuba

TRIBE Member
Originally posted by kmac
:(

I wanted to put away at least $1,000 but I doubt it will happen.

not that hard

get an RSP loan, at prime plus 1 or 2, meaning, you can pay it off in about 10 months at about 110 or so per month if that even or 88 per month over 12.
 
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defazman

TRIBE Member
I put around 20% of my net income into my RSP. I'm just using it as a savings plan for a first house deposit.
 

Skipper

TRIBE Member
Remind me what the diff is between an RRSP and an RSP? One is sheltered, one is not, correct?

I just started my RRSP in Oct...I put about $150/mo into it.
 

Gunark

TRIBE Member
I'm switching my etrade account to self managed RRSP.

All the fun of a vegas casino -- tax deductable.

Whee!
 
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exrboy

TRIBE Promoter
$75 goes to my RRSP every two weeks. One of the best moves I've made economically considering $25 is paid by my work.
 

R4V4G3D_SKU11S

TRIBE Member
I don't have one yet because I have outstanding student loans that I want to pay off ASAP, since they obviously aren't making me any money.

I won't be able to open one for about 3-4 years (I'll be 28-29 then).

I'm not sure how much of a percentage I'll put down, it depends on how much I am making then. It''ll be a good chunk though (10-15%).
 

mingster

TRIBE Member
Re: Re: how many of you have RSPs? <reminder>

Originally posted by pr0nstar
You didn't say percentage :p

pr0nstar :D

oh kenny. always so eager to share the state of your financial wealth with the rest of us.
 

pr0nstar

TRIBE Member
When I've paid off my debts I have now, I plan to probably do ~$100 / cheque to a RRSP for each year end...

And maybe take out a RRSP loan each year after this.

pr0nstar
 
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kmac

TRIBE Member
Originally posted by qtip
not that hard

get an RSP loan, at prime plus 1 or 2, meaning, you can pay it off in about 10 months at about 110 or so per month if that even or 88 per month over 12.

That's a good idea. I'll look into that, but I wanted to avoid a loan.
 

pr0nstar

TRIBE Member
Re: Re: Re: how many of you have RSPs? <reminder>

Originally posted by mingster
oh kenny. always so eager to share the state of your financial wealth with the rest of us.

Seriously.. fuck off.

I posted what comes out towards my RSP, not what my Net Pay is...

pr0nstar :mad:

P.S. And my RSP I won't see until I retire, so what do I care about it, it just comes out each pay cheque... RRSP is different, I can withdraw from that.
 

PRIMAL

TRIBE Member
I don't have a single cent in savings or RSP's. :(

I'm bad at saving when the goal is too far away. If I know I'm going away somewhere then I can save the money easy, but hopefully I wont live that long to regret not getting RSP's.
 

-Mercury-

TRIBE Member
Re: Re: Re: how many of you have RSPs? <reminder>

Originally posted by mingster
oh kenny. always so eager to share the state of your financial wealth with the rest of us.

hahaha

you took the words right out of my mouth

:D <---- kenny's favorite
 
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pr0nstar

TRIBE Member
Originally posted by Skipper
Remind me what the diff is between an RRSP and an RSP? One is sheltered, one is not, correct?

All I know is my RSP I can't take out from it...
But an RRSP you can ... and use it towards a house, etc...

pr0nstar
 

pr0nstar

TRIBE Member
Re: Re: Re: Re: how many of you have RSPs? <reminder>

Originally posted by -Mercury-
hahaha

you took the words right out of my mouth

:D <---- kenny's favorite

I'd really like to know how this shows my financial state you asshats...

:rolleyes:
 

AGrayson

TRIBE Member
Just tossed in about 6% of what I made pre-tax last year earlier this morning.

I'm looking to raid it within the year for a down payment on something.

In the meantime, I get a tax break. Wheee!!

adam
 

Sassy

TRIBE Member
I do, I contribute to it each pay cheque.

I even put some of my bonus away this year, I figure its money that I am throwing away to taxes and will never see again if I didn't contribute.

Think I will add some more beofre the dead line as well, it will just mean more money back come tax time for me :)
 

Booty Bits

TRIBE Member
Originally posted by PRIMAL
I don't have a single cent in savings or RSP's. :(

I'm bad at saving when the goal is too far away. If I know I'm going away somewhere then I can save the money easy, but hopefully I wont live that long to regret not getting RSP's.

Al, do you think that saving for a house is short-term enough to provide you with incentive?
cuz you can contribute to an RRSP and then redeem a big chunk of it tax-free when you buy your first house...
but you have to put the money back over 15 (or 20) years.
 
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