RRSP

A registered retirement saving plan (RRSP) is, for most of us, the first step towards saving for our golden years. The RRSP is a registered investment account that carries many tax benefits. The primary purpose is to shelter a portion of your income from being taxed right now. Not many other investments can do that. […]

Forget “Will you marry me?” How about “I want to open a spousal RRSP with you.” That is what true love looks like. No marriage certificate necessary. Nothing says commitment like combining your incomes and minimizing your overall tax bill. Keeping your financial house in order is a worthy endeavour that can pay off handsomely, […]

We always hear a lot about RRSPs at the beginning of each new year. But what exactly is an RRSP? It stands for “registered retirement savings plan”, which means you can open a separate savings account with your bank, through a financial planner, a discount brokerage platform or a robo-advisor. An RRSP is very commonly […]

There are several myths that surround stock market investing. One common assumption is that investing in equities is difficult for the average retail investor and the other is you need huge amounts of capital to get started. However, there are several ways for retail investors to start investing in stocks and they can begin with […]

The Registered Retirement Savings Plan (RRSP) was created in 1957 and is the oldest of the registered accounts. In fact, you can deduct the amount you invest into an RRSP from your annual taxable income, up to 18% of the previous year’s income, or $26,010. Unused contributions can also be accumulated. However, when the money […]

The RRSP deadline is fast approaching. In fact, there is no RRSP “season”, you can contribute to your RRSPs throughout the year, and the deadline for contributions to help you reduce your prior year’s tax bill is at midnight on March 1st. But before you run off to put some money into your RRSPs, let […]