Originally posted by RealJimmyJames
The cool thing about RRSP's is that you can access them BEFORE retirement for a few reasons, like going back to school, buying a house etc. If you have a higher chance of using it for that, you don't actually want to be very aggressive at all, since your time horizon is shorter.
if it's truly for retirement, just pick one of those target-date bundle options and be done with it. Zero hassle, just set and forget.
This is very enlightening.
Sounds to me like a TFSA might be a better fit for me? I don't plan on going back to school (I can see it being necessary though with the way the world works nowadays. I'm 28). Already bought my first place, so no HBP for me. I'd prefer for it to be more accessible.
Further reading makes it seem like the pension and rrsps operate similarly enough to not justify having both. The pension is very well funded, and the payout upon retirement is similiar to what I would shoot for financially if I had no pension and did all the investing myself. Anything further is just additional retirement savings on top of that.
Originally posted by flipstah
Is this one of those plans that once you leave the company, it turns into a LRA?
That's what happened to mine!
Can't touch it till I actually retire WTF.
If so, follow what JimmyJames said and set it on your ideal retirement year, whether it be 2045 or 2050.
I will have to look into this, I do not know.
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