RRSPs

Do you think that you do not have the financial means to contribute to a registered retirement savings plan or that it is too early to think about it? Think again.
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RRSP 101

A registered retirement savings plan (RRSP) is a way to save for retirement. It offers 2 tax advantages.

• It reduces your income taxes.
• Your savings are tax-sheltered.

Saving for retirement on a small salary

Saving is not always easy, but it really pays and gives you peace of mind.

• Take charge of your finances by drawing up a budget.
• Build a contingency fund.
• Save in a systematic way.

Having the means for the retirement you look forward to

Would you be able to meet your financial obligations if your paycheque was delayed by 1 week? Here are a few things to think about to help you avoid unexpected trouble under such circumstances.

Time is on your side

How much will your regular instalment savings be worth? You can do the math with this tool.

You should start thinking about retirement as soon as you enter the job market

Budgeting for RRSP contributions will help you take advantage of your long investment horizon and make it easier to buy your first home if you are not already a homeowner. Set up and stick to a realistic budget to gain some breathing room that will help you save more.

• Know what goes into your pockets and what goes out.
• Structure your budget.
• Take stock.

Planning your retirement at 40

Does dealing with your children, career and home leave you with too little time to think about it? Here is an action plan to start planning for retirement.

Planning your retirement at 50

Whether you want to make up for lost time or achieve the goals you established, here is a 3-step plan to help you be prepared for this major step in your life.

What to do 6 months before retirement

Here is a guide to help you finalize the details of your retirement.

Just what is a "comfortable retirement"?

You often hear that your retirement income should ideally be 70% of your employment income. Is that really the minimum you need for a financially worry-free retirement?

6 tips to help you avoid running short of funds during retirement

Can you, or will you be able to afford to live in retirement with the capital you have accumulated? Here are 6 tips that will help you make the right decisions.

Should you pay down your mortgage or contribute to your RRSP?

It is best to find a balance between paying your mortgage and contributing to your RRSP, even when RRSP returns are lower than mortgage interest rates

The advantages of making early RRSP contributions

Put time on your side. The longer your money stays in this tax shelter, the greater your retirement capital.

Borrowing to contribute to your RRSP

It may be to your advantage to borrow money to contribute to your RRSP, as long as you use the tax refund to pay off part of the loan.

Contributing to your spouse's RRSP

Pay less tax by spreading out the incomes of both spouses evenly at retirement.

Comparing TFSAs and RRSPs

These 2 savings plans allow you to save money tax-free. They also meet different types of needs. These tips will help you make an informed choice

Taxes at retirement

Until what age can you contribute to your RRSP? What options are available thereafter? Get the most of your accumulated capital by planning your withdrawals.

5 essential questions about RRSPs and retirement

How to use tax rules to your advantage to enjoy a comfortable retirement with your RRSP.