How much is a good amount to do RSSP for a student with no income for the next 4 years? - Seedly

Investments

Regular Shares Savings Plans (RSS)

Asked by Thaddeus Tan

Asked on 16 Apr 2019

How much is a good amount to do RSSP for a student with no income for the next 4 years?

I am unsure what a good amount is for RSSP. What I define by "good" is so that I can spend comfortably yet at the same time able to maximise my capital gains in the long run.

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The minimum amount for most RSSP would be $100 a month. Will you be comfortable investing $100 a month?

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Thaddeus Tan
Thaddeus Tan

18 Apr 2019

Hi Gabriel, I think $100 is okay but if I can definitely put in more I will. that's the part I'm unsure of, how much is too much? I want to put in as much so as to maximise returns but at the same time have enough to go about my daily activities
Gabriel Tham
Gabriel Tham

18 Apr 2019

There is no too much. There is only how much you are able to or comfortable to put in. Calculate how much are your daily expenses, and future expenses like student loans, BTO, renovations, etc After deducting all current expenses and potential future expenses, you get to decide, save, invest or spend the extra.