(Closed) SPINOFF: What do you contribute to your retirement each month?

posted 6 years ago in The Lounge
  • poll: What percentage of your income do you contribute to your retirement fund each month?
    Nothing - I can't afford it right now. : (9 votes)
    13 %
    Nothing - I choose not to momentarily. : (2 votes)
    3 %
    1-3% : (4 votes)
    6 %
    4-6% : (16 votes)
    22 %
    7-9% : (7 votes)
    10 %
    10-12% : (13 votes)
    18 %
    13-15% : (5 votes)
    7 %
    15%+ : (15 votes)
    21 %
    Nothing - My employer fully-funds my retirement. : (1 votes)
    1 %
  • Post # 31
    5876 posts
    Bee Keeper
    • Wedding: April 2013

    indyJEEP:  Did Darling Husband have a savings plan that he needed to transfer over in CA (I’m not even sure if that’s possible or an option?). It’s good that you have both perspectives to use for comparison, also. Do you mind my asking which healthcare system he prefers more? I’m curious!”

    Darling Husband actually lives in the USA (we are working on my visa and I’ll be joining him down there), so he hasn’t had to deal with any transfers.  When I move to the USA I’ll be able to leave my RRSP in Canada (similar to a 401k) and will have to totally cash out my TFSA entirely (similar to Roth IRA) which is a total bummer, because the USA does not recognize it’s taxed advantaged status.  Womp womp.

    Darling Husband prefers the Canadian medical system to the US medical system.  He’s fortunate to have good benefits and everything in the USA, but his benefits would be way better if he were in Canada.  

    Post # 32
    10649 posts
    Sugar Beekeeper
    • Wedding: January 2011

    cbgg:  I thought they changed and recognized it now.  Maybe that was just for dual citizens and not if moving there.  I’m confused about it, but just commenting so you double check before withdrawing it all!

    Post # 33
    2153 posts
    Buzzing bee
    • Wedding: September 2014

    indyJEEP:  I am a NY state teacher, and so when I retire I’ll get a pension that is something like 67% of the average of my last 3 years salary. At this point, I don’t have a retirement fund. I know I should set one up, but I just hate the idea of starting to take home less pay..especially when I know I’ll still get paychecks and have free benefits after I retire.

    Post # 34
    1607 posts
    Bumble bee
    • Wedding: October 2013

    indyJEEP:  my husband contributes the max to his 401k, so 17500.  His employer matches 4%. We also have a Roth ira from a few years ago that is maxed out. I suppose we could start another ira but we want to have more liquidity for the time being as we are attempting to buy some real estate.  

    Post # 35
    5876 posts
    Bee Keeper
    • Wedding: April 2013

    AB Bride:  Really?  Any idea how recently your heard that?  I looked into it extensively in about Feb (even talking to a US based accountant) and at that time there was no recognition.

    I’ll see if I can dig up anything new.  It would be excellent if I could keep it!

    Post # 36
    10649 posts
    Sugar Beekeeper
    • Wedding: January 2011

    cbgg:  Everything I heard was related to FACTA.  The agreement occurred in Feb. 


    Significant exemptions and relief have been obtained. For instance, certain accounts are exempt from FATCA and will not be reportable. These include Registered Retirement Savings Plans, Registered Retirement Income Funds, Registered Disability Savings Plans, Tax-Free Savings Accounts, and others. In addition, smaller deposit-taking institutions, such as credit unions, with assets of less than $175 million will be exempt

    Post # 37
    2119 posts
    Buzzing bee
    • Wedding: May 2013


    indyJEEP:  i put 5% . if i made more i wouldnt put more into it. i should but i need some money in my life right now lol. my employer matches it!! i would be crazy not to put more into it. if i made less i would prob keep it the same.

    Post # 38
    402 posts
    Helper bee
    • Wedding: Royal Park Hotel

    8% and my job matches 5%

    The topic ‘SPINOFF: What do you contribute to your retirement each month?’ is closed to new replies.

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