Quote:
Originally Posted by Slava
Yeah and for most people the rule of thumb is ~10% for long-term savings, so that's not surprising. Like I say, the point of this thread is discussing teachers who are at the end of their rope though...which is why we were talking about 20%.
Retirement planning in general for people is a different ballgame.
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One of the reasons teachers put in that much, is that just like CPP there are a few older generations who put in not nearly enough. So every current teacher is paying for her own pension plus a chunk of the pension of those who went before.