Quote:
Originally Posted by Snakeeye
The major gains in RRSPs come from interest rather than principal. The longer your money is in the RRSP, the more interest it earns, the faster it grows.
If you can afford to put a little extra into your RRSP now, it will do a lot more work for you over the next 15 years that it can't do if you wait until your late 30s/early 40s.
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Not saying that I don't contribute to my RRSP's rather that I'm not maxing them out on a yearly basis. Usually I contribute about 3,000 per year and find that the 200-250 per month is just about the right amount that let's me contribute while still saving to pay down my debts. It also helps I get a significant bonus every year
