Not sure if this is already discussed but can someone make me understand how to proceed on investing in retirement plans in Canada.
1) I am currently working with an employer (43+% tax bracket) on full time basis
2) I relocated to Canada in Sep 2018. So just starting here.
3) I am 34 now
4) My salary will increase (not substantially but should be in 51 % tax bracket)
5) Employer will contribute as: a) 3% for employment between 6 months till 1 yr (b) 6% for employment from 1 yr to 2 yr (c) 9% for employment from 2 yr to 3 yr (d) 12% for employment between 3 yr and 4 yr (e) 15% for employment over 4 yrs
6) Goal is retirement
Based on above, how should I ans below
1) What type of retirement plan I should consider?
2) Should I consider a mix of both Tax saving and regular RRSP?
3) How much should I contribute? and how should I change it going forward?
4) Any way I should I frame my contribution or change later to better reflect my overall final saving
Any advise is appreciated. TIA
1) I am currently working with an employer (43+% tax bracket) on full time basis
2) I relocated to Canada in Sep 2018. So just starting here.
3) I am 34 now
4) My salary will increase (not substantially but should be in 51 % tax bracket)
5) Employer will contribute as: a) 3% for employment between 6 months till 1 yr (b) 6% for employment from 1 yr to 2 yr (c) 9% for employment from 2 yr to 3 yr (d) 12% for employment between 3 yr and 4 yr (e) 15% for employment over 4 yrs
6) Goal is retirement
Based on above, how should I ans below
1) What type of retirement plan I should consider?
2) Should I consider a mix of both Tax saving and regular RRSP?
3) How much should I contribute? and how should I change it going forward?
4) Any way I should I frame my contribution or change later to better reflect my overall final saving
Any advise is appreciated. TIA