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Contributing about 12% of your pre-tax income each year should do.
There’s no hard and fast rule. The goal for most people is to contribute enough so that when you retire, you can maintain the same lifestyle you enjoyed while you were working.
The maximum you can contribute each year is 18% of your income, and if you’re managing that, you’re good. Each year, roughly two-thirds of Canadians contribute nothing at all. We find that contributing about 12% of your pre-tax income each year should be fine for most people, as long as you contribute regularly, invest wisely and don’t take on a massive mortgage or large amounts of other debt.
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