What percentage of your income that you should save for retirement depends on your retirement income objective. In Canada the maximum you can contribute to you Registered Retirement Savings Plan is 18% of your previous years income. In 2014 the limit is $24,270 and in 2015 it is $24,930. That is the maximum contribution you can deduct, how much you should save in total is based on you individual objectives.
If you have further questions please do not hesitate to ask.
Additional information on retirement planning is available at www.retirementplanningchecklist.ca
.JPG){kind=avatar}
If you have further questions please do not hesitate to ask.
Additional information on retirement planning is available at www.retirementplanningchecklist.ca