How Much More Will You Have in Your RRSP at Age

question 109

Short Answer

How much more will you have in your RRSP at age 65 if you begin annual $1,000 contributions to your plan on your 26^th birthday instead of on your 27^th birthday? Assume that the RRSP earns 8% compounded annually and that the last contribution is on your 65^th birthday.

---

Definitions:

Sexual Sadism

A condition where individuals derive pleasure from inflicting pain or humiliation on others.

Sexual Masochism

A condition where sexual excitement and satisfaction depend on enduring pain, humiliation, or being bound.

Consenting Adults

Refers to individuals who are of legal age and have the capacity to make decisions about participating in activities, particularly sexual or other significant undertakings, with mutual agreement and understanding.

Paraphilias

Atypical sexual interests towards objects, situations, or individuals that are not part of normative stimulation.