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prosequence · 05-03-2004, 06:38 PM

Alrighty, I think the states versoin of RRSP (registered retirement saving plan) is the 401k. I think. If not, well, follow along anyway.
Alright, banks were pushing the RSP contribution thing up to tax time, as they do every year. I guess that's a good thing, want to make sure they don't run out of our money so they can make theirs, anyway. So, right now there are a lot of "baby boomers", with a lot of money into these RSP and investments. The investers say "buy into it, it's a good thing", don't get me wrong, I'm all for making 8-12 percent on my investment money.
Here is my two questions:
1. What happens when they baby boomers retire inthe next couple years? Won't ehy start taking their money out to spend and live on? Will htis not drop the growth and value of anyone else's investment in those compnaies?
2. If I understand this correctly, it's only good if you're making less money per year than you do now (when you put your money into it) because you pay a lower tax on your lower income. So isn't htis a plan to be broke?

I have a feeling I'm off base on my understanding of this, so any comments or ideas are truly welcome.

05-03-2004, 06:38 PM	#1 (permalink)
prosequence Psycho Location: YOUR MOM!!	RRSP Alrighty, I think the states versoin of RRSP (registered retirement saving plan) is the 401k. I think. If not, well, follow along anyway. Alright, banks were pushing the RSP contribution thing up to tax time, as they do every year. I guess that's a good thing, want to make sure they don't run out of our money so they can make theirs, anyway. So, right now there are a lot of "baby boomers", with a lot of money into these RSP and investments. The investers say "buy into it, it's a good thing", don't get me wrong, I'm all for making 8-12 percent on my investment money. Here is my two questions: 1. What happens when they baby boomers retire inthe next couple years? Won't ehy start taking their money out to spend and live on? Will htis not drop the growth and value of anyone else's investment in those compnaies? 2. If I understand this correctly, it's only good if you're making less money per year than you do now (when you put your money into it) because you pay a lower tax on your lower income. So isn't htis a plan to be broke? I have a feeling I'm off base on my understanding of this, so any comments or ideas are truly welcome. __________________ And now here I stand because of you, Mister Anderson, because of you I'm no longer an agent of the system, because of you I've changed...