RRSP deadline looming
Posted February 25, 2011 2:35 pm.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – The RRSP deadline is getting close, but do you know enough about how to save for retirement?
Warren Law with the Bank of Montreal says it’s never too late to invest, but it’s always better to be prepared. “Ahead of time, what you need to is maybe get a clear picture of what kind of return you need, and how much money you need to save. Probably more importantly, what your retirement goals are, how much money do you think you’re going to need, on a yearly basis, to do all the things you want to do for retirement.”
You should be able to live off about 75 per cent of your current income. Law says that’s a good starting point when setting up your retirement plan.
The deadline is Tuesday, March 1, for the 2010 tax year.
