How to Withdraw From Your RRSP Without Paying Tax
The Registered Retirement Savings Plan (RRSP) is a tax-sheltered investment account for Canadians to save for retirement. However, there may be times in your life where you need to access…
RRSP
RRSP stands for Registered Retirement Savings Account and is a tax-deferred way of putting money aside for retirement. Because of its tax-sheltering power, the RRSP is one of the best investment accounts available to Canadians.
We've got lots of articles on the RRSP but we bet you're looking for one of these:
- Everything You Need to Know About The RRSP Explained
- How to Use the RRSP First-Time Home Buyer's Plan
Don’t let the name fool you! Your Registered Retirement Savings Plan doesn’t have to be a savings account. You can (and should) use this account to invest in the stock market. You can open an RRSP to hold stocks, bonds, ETFs and more, to supercharge your long term savings and meet your lifetime financial goals!
You can even use your RRSP to put a down payment on your first home, or to pay tuition & fees when you go back to school. This account has so many uses that will give you more choices and financial security over your lifetime.
Everything You Need To Know About The 2020 RRSP Explained
The 2020 RRSP deduction limit (contribution room) has increased to $27,230. This is up from the 2019 limit of $26,500. That is the main change you need to know for…
Maximizing Your Income Tax Refund With RRSP Contributions
Tax season always brings up questions about one popular savings vehicle: the Registered Retirement Savings Plan (RRSP). And it’s no wonder. The RRSP is one of the most useful and…
4 Reasons to Set Up an RRSP While You’re Young
You might think you’re too young to need an RRSP. But this is one savings plan that is a firm foundation for a lifetime of financial security. Despite its name,…
Saving Money in a TFSA and RRSP On Any Budget
It’s easier than you think to fit saving into any budget — if only because any amount of saving is worth doing even on the tightest of budgets! Many people…
The 5 Bank Accounts Everybody Needs
There are a minimum of 5 bank accounts everybody needs, but even more might be right for you. Between my business and personal accounts, I have financial relationships with seven…
How To Use The RRSP First Time Home Buyer Plan
The RRSP First Time Home Buyer Plan is a great way to put a down payment on your first home. If you’ve been diligently saving in your RRSP, you can…
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