How to become an RRSP millionaire

Posted by Ravi Gulati | Posted in Financial Planning, News of Interest | Posted on 27-12-2013

According to one online calculator, a 30-year-old would have to earn at least $74,000 a year and contribute 18 per cent of her salary each and every year to an equity-heavy portfolio to wind up with more than $1-million in her RRSP by the age of 60.

That assumes she achieves an average annual return, after inflation, of 5 per cent and gets regular salary increases that are slightly higher than inflation.

How to become an RRSP millionaire – The Globe and Mail.