4/29/2014

My Money, My Choices - Level 3, Activity 5 & 6

In this activity we set up our retirement savings..and automate them (activity 6) I think it's really apt on the tail of yesterday's post about my grandmother in retirement and the post we did about a week ago or so on Level 3, Activity 1 (calculating our personal savings rate).

I'm still comfortable with where my savings are at, but I do think we need to bump Jordan's.  We've decided to go ahead and increase his contributions by $100/month as that will take him in to the 12% savings rate range instead of the 9% range.  For now, we made the bump to his regular RRSP instead of his streetwise account - we wan to keep on eye on how things play out now that ING Direct is Tangerine.

Not including the 10% I save for my pension (5% me, 5% my company) and the shares I purchase ($100/month) - this brings Jordan's savings up to $400/month and mine stay at $100/month.  We've been adding $100/month to our emergency fund, and are also still saving $200/month to our baby fund (that's in my TSFA).


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