Adjusting my contributions to the Retirement Portfolio

So, I’m finally on my company RPP plan. So on my pay cheque today I contributed $65.52, which means with my employer’s 4% match, I put an additional $131.04 into my Retirement Portfolio.

Plus, the $400/month I already contribute to my RRSPs, that means I’ll be contributing $662.08/month into my Retirement Portfolio – which is about 25% of my net monthly income. Perhaps that’s a little too much.

Bi-weekly, in my RRSPs I’m currently contributing:
$50 Canadian funds
$100 International funds
$50 US funds

If I scale the International funds back down to $50/bi-weekly, that will free up an additional $100/month I could be saving towards something else.

Or, maybe I just keep my saving rate as it is, and see if I can continue contributing $662.08/month. I mean, really it’s only an additional $131.04/month. But, I also have to be careful about maxing out my RRSPs. I should take a look and see how much room I have left for this year.

And on that note, I need to start to research where to invest my money in my RPP. Although I don’t intend to stay very long at this job, and since the contributions are immediately 100% vested, I can just take them and consolidate them into my current RRSPs with TD Canada Trust once I leave the job. At least, that’s how it was explained to me when I started. So, maybe I should just keep them in my RPP account, and not actually invest in anything at the moment.

This is a lot to think about, for sure.