[kevman]

So I'm looking for a little retirement saving advice. Let me first start by saying that I'm WAY too young to be thinking about it... I know theres no such thing as too young but...

Anyways, my current employer offers what sounds like a pretty good DCPP where they will match up to 9% of my investment. This being tax sheltered leads me to believe that an approx. investment of 6% per pay cheque (after tax) will turn into a full 18% of my salary. This sounds great but this money will be locked in to the plan while I remain an employee at which point I have the option to transfer it to a LIF, LIRA, etc.

Now here’s where I'm looking for some advice and help... Can someone explain to me the pro's and con's of a LIF/LIRA. Maybe it's the way I was brought up but I have a hard time having money in an account that I don't have control over. Being young, ambitious and very entrepreneurially I don't plan on working until I'm 65 just to withdraw a limited income from a large sump of money that I've earned that the government won't let me touch.

The other problem is I want to save for a house and I won't be able to withdraw this money for that purchase. So yes retirement savings are important but to me so is owning my own property.

An automatic “9% raise” is so hard to turn down…

Pretty much I'm looking for some knowledge about locked in retirement plans and how they work...