To contribute a significant amount annually without straining your budget, just contribute throughout the year and avoid the February rush. This way, your capital will be in a tax shelter for a longer period of time since your contributions will earn interest from day one.
Select the regular instalment plan where your contributions are withdrawn directly from your account. You'll see: a few dollars each week or month will add up.
Interested? Here are two ways to do it.
No need to give it another thought - transfers are made automatically.
You can change the amount and frequency any time you wish.
This is how your contributions can grow.
Time span |
Capital invested |
Value of RRSP |
|---|---|---|
After 10 years |
$5,200 |
$7,239 |
After 20 years |
$10,400 |
$20,797 |
After 30 years |
$15,600 |
$46,193 |
Time span |
Capital invested |
Value of RRSP |
|---|---|---|
after 10 years |
$26,000 |
$36,193 |
after 20 years |
$52,000 |
$103,985 |
after 30 years |
$78,000 |
$230,966 |
These examples are based on an RRSP investment at an annual rate of 6.5%.
Money working for people
Copyright © 1996-2008, Fédération des caisses Desjardins du Québec. All rights reserved.