I’m 42, aiming to retire from my current job at 55. Income is $275K. Beat cancer this past year but health and longevity could be in question.
I have paid off my house, have a company pension that will pay $36K from 55. Have a small employer PRA of around 150k by 55 excluding any growth.
I’ve started contributing this year to TFSA and have got it up to 50%ish of contribution limit.
I have not contributed to RRSP at all. Have about $260k contribution room.
I was thinking this year I should start contributing to RRSP, and use the return to fill my TFSA. I will regularly contribute to the TFSA until it’s maxed this year.
Considerations are my RRSP contribution room, and high income now. I’m only looking for a modest income for retirement.
Not sure what to do since I’m starting late in the game.