Posted on 01/04/06
Pension-less couple need an RRSP boost
A Toronto-area couple we'll call Jack and Susan find themselves at mid-life with a dilemma. Although they are employed by fairly large companies and have gross combined incomes of $128,760 a year, they have no pension plans. Instead, they have a large amount of space in their registered retirement savings plans they feel they should fill and a $192,000 mortgage. Which should come first, they ask, and how much should they be saving for their children's registered education savings plans out of available income?
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