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isis · 06-24-2004, 05:17 PM

Well, here I am, just finished high school this week .. and I'm already worried about retirement.

I'm taking a year of my life off to work and figure out what I need to do and all that stuff. I work in a very, very profitable part of the country (Canada country, that is) and I can work useless jobs for anywhere from $15-$30 an hour. Thusly, since I have nothing to spend my money on (I've already bought myself a vehicle and just about any other material posession my heart desires) I decided that I should save. And save big time.

I once had money in Canada Savings Bonds, but I found them to just be pretty low-interest as I made $21 a year. I'm looking to start putting money into an RRSP. However, being only 18 years old, I'm worried that I might come into some hard times in the next 10 or so years, and need to take out this cash. As you all know, its highly taxed.

Do you think its worth it for an 18 year old to start working on the ole RRSP? If I have the money, I don't see it to be a big problem. Has anyone else started saving this early? Am I just being paranoid? I have this thing about being rich when I retire ;D

Thanks guys.

06-24-2004, 05:17 PM	#1 (permalink)
isis Insane Location: In the Woods.	Beginning RRSP (401K) Well, here I am, just finished high school this week .. and I'm already worried about retirement. I'm taking a year of my life off to work and figure out what I need to do and all that stuff. I work in a very, very profitable part of the country (Canada country, that is) and I can work useless jobs for anywhere from $15-$30 an hour. Thusly, since I have nothing to spend my money on (I've already bought myself a vehicle and just about any other material posession my heart desires) I decided that I should save. And save big time. I once had money in Canada Savings Bonds, but I found them to just be pretty low-interest as I made $21 a year. I'm looking to start putting money into an RRSP. However, being only 18 years old, I'm worried that I might come into some hard times in the next 10 or so years, and need to take out this cash. As you all know, its highly taxed. Do you think its worth it for an 18 year old to start working on the ole RRSP? If I have the money, I don't see it to be a big problem. Has anyone else started saving this early? Am I just being paranoid? I have this thing about being rich when I retire ;D Thanks guys.