How much money do you put aside for...

[Wonderwiper]

I save one childs fees to cover tax/ cpp and pay it in a lump sum.

I think we all need to contribute something to an rrsp/tfsa/savings account for retirement. The maximum payouts from cpp/oas are really pitiful. The "basic" level of care in a nursing home is not always the nicest and waiting lists for even the least desirable places are ridiculous ( 12 months+) in Ontario.

I think many people are very unprepared for retirement or even "if sh#t hits the fan". Starting now with little bits will help.

I also agree with Brights parks about life insurance. Term policies can be very affordable and in my opinion are essential.