Comments on: Tuesday’s Econ 101 Post: how do you stack up in contributing to your RRSPs?

By: Nancy

Nancy — Thu, 14 Feb 2008 00:50:37 +0000

@thickenmywallet – I wonder what would happen if we made ‘rrsp’ season occur in, say, March or April instead? (I know it’s inextricably linked to tax filing, so it’s just a thought experiment). Re: thinking about retirement – it could be avoiding thinking of it, or just that is simply doesn’t seem real. I know I still can’t fully grasp that fact that in another 25 years or so I will be ‘retired’! So even though I do prepare, it’s hard to feel motivated.

@woolywoman – a cheer to you for resisting ‘the man’ and making up your own mind, after careful thinking, about what is right for you, now, in your set of (wonderful) circumstances.

By: Wooly Woman

Wooly Woman — Wed, 13 Feb 2008 03:07:56 +0000

We make a small monthly contribution each, but it is NOWHERE near maxing out- that is many years down the road. I am closer to the median contribution than the average. I amazed sometimes how people my age (mid-30’s) just really aren’t thinking about retirement yet. My brother actually admitted last year he didn’t know what an RRSP was (gasp! however, it just means he hadn’t been paying attention since our parents have always invested in RRSPs and talked about it). On the other hand, I have a very organized friend who, like you, is on the road to maxing out, and I admire her diligence in her monthly contributions because she has decided to sacrifice in order to save for what is important to her, which is retirement.

By: thickenmywallet

thickenmywallet — Tue, 12 Feb 2008 23:26:04 +0000

I suspect many people think that contributions are only done in Jan-Feb when people are paying off holiday bills so they lack money at that time to do it. Then they forget about it.

Retirement scares people so they avoid it and anything to do with it.

Just my pet theories.