How much does everyone put into RRSP every month?

[TorqueDog]

Works out to about $350 a month. I put $50 a month into a TFSA, and a lump sum (works out to ~$300/month) into my RRSPs yearly.

[Kloubek]

I put away 10% of my gross income. From what I've heard, 10% gives you a reasonably comfortable retirement, with your standard of living being based on your current income and spending habits.

[Feruk]

I put away $600/month, company matches 1.5X, so $1,500/month. Usually held in company shares for 1 year, then I move to a self directed RRSP.

[seer_claw]

I'm currently putting $500/mo into my TFSA. I've been dumping a lot into my RRSP but I'll be pulling it out shortly to buy a house. First time home buyers can pull out $25,000 tax free towards a home. So its a pretty good incentive.

I've also got 4% of my pay going towards the company policy, they match up to 4% so I might as well get the most out of them.

I'm hoping that after I buy the house I can put about $2-300 into my RRSP, so that I can pay back the money that I've taken out.

[5.0]

$0 into RRSP, im still young and don't see the advantages of contributing now.

But 5% goes into a TFSA, which is matched by my employer, and 15% into a share purchase plan which is also matched. So I contribute 20% of my net income.

[Calgaryrocky]

We have a matched RSP plan at work, depending on years of service the company matches your contribution up to a certain percentage.

Currently I put away 6% gross and they match 5% so 11% of gross.

[Pacman]

I'm more curious to know what people are doing with the RRSP money once it's in the account. Is it going into stocks, bonds or just sitting in cash earning .025% interest?

All mine goes into a self directed account and I'm doing 50% equities (which I write covered calls against to generate income) and 50% option trading.

[mazdavirgin]

0 instead I put 400 a month into my TFSA which is then invested into the market. Frankly RRSP are not that great compared to the TFSA. I don't get why people bother with RRSP if they don't have matching being done by their company.

[Ekliptix]

Nothing. I put a much as I can afford in at the end of the year.

[Darkane]

Zero.

I've put in one 5k lump sum.

Company dumps 8% of gross every year.

Summer 2012 it jumps to 12%.

I'll throw in another 5k soon for this year just to help with Taxes. I get burned with my Renter each year because of my variable mortgage rate. Gov't loves me come tax time

All my RRSP's are high risk, and have been doing 20% since 2007 (aside from early '09).

[Alterac]

I put in 8% of my wage, company matches + 2%.. so 18% of my wage is in rrsp.

[ExtraSlow]

12% plus company matching of another 4%
Plus a few grand here and there in my self directed RRSP.

Wife puts nothing in hers these days, since mine ain't maxed out and I get a bigger tax reduction from it.

[Darell_n]

Work gives me around $750/month and I throw $350 into another account.

[Kloubek]

Originally posted by Pacman
I'm more curious to know what people are doing with the RRSP money once it's in the account.

Mutual funds.

[Skyline_Addict]

0 into RRSPs.

9.3% of my salary goes into company pension plan, 100% matched by company. So 18.6% of salary saved every year.

Will be using TFSA for self-directed investing, particularly as contribution limit increases year-to-year. With 2 savings vehicles, one of which is completely tax sheltered for the earnings upon withdrawal, the RSP is the last thing I'd contribute to funds permitting. Only thing I would use it for is year-end lump sum contributions to get tax refund immediately.

[wintonyk]

I opened my RRSP when I was 18 with a lump sum of tax refund. In university I didn't pay anything into it. Right now I just do 100 per month. Most my money extra goes to paying off debt.

I have everything high risk.

[Feruk]

I don't get people who don't see the value of the RRSP. Don't you realize it lowers the taxes you pay the government? If you put in $10K, your taxable income is lowered by $10K... It's like saying "oh no, what's the point of free money?" TFSA doesn't do that.

Also, mine is self directed. I hold some in cash, but try to be 80-90% invested at any time in a mix of stocks and ETFs (mainly stocks).

[JRSC00LUDE]

Originally posted by 5.0
$0 into RRSP, im still young and don't see the advantages of contributing now.

Registerd plans aren't the right choice for everyone, that much is true. However, if you don't see the advantage of starting younger vs. starting older I suggest you consider compounding interest for starters.....

[rage2]

Originally posted by Feruk
I don't get people who don't see the value of the RRSP. Don't you realize it lowers the taxes you pay the government? If you put in $10K, your taxable income is lowered by $10K... It's like saying "oh no, what's the point of free money?" TFSA doesn't do that.

It's just deferred tax. You pay the tax when you take the money out. I think the only exception is for a first time home buy or something?

[Type_S1]

Originally posted by Feruk
I don't get people who don't see the value of the RRSP. Don't you realize it lowers the taxes you pay the government? If you put in $10K, your taxable income is lowered by $10K... It's like saying "oh no, what's the point of free money?" TFSA doesn't do that.

Also, mine is self directed. I hold some in cash, but try to be 80-90% invested at any time in a mix of stocks and ETFs (mainly stocks).

....you do realize one day you STILL HAVE TO PAY taxes on it