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Registered Retirement Savings Plan (RRSP)
What kind of retirement are you dreaming of?  If you’re 65 and you retire today, your monthly income from government sources would be about $1,200. Is that the retirement lifestyle you dreamed of?

Many of us have company pension plans that will help but it still may not be enough to provide for a comfortable retirement when you take inflation into account. Millions of Canadians have come to this realization and are now taking control of their financial future by starting to save for retirement today.

The registered retirement Savings plan is one of the best ways to save for your retirement.   Not only will you enjoy the maximum benefits of tax-free compound growth, but your contributions are also tax deductible.

There are also other benefits to investing into an RRSP including access to the Home Buyers Plan.  Your able to borrow up to $20,000 from your RRSP towards the purchase of your first home.  Its a great way to quickly save up for a purchase of this magnitude.

You can contribute up to 18% of your earned income to a maximium of $15,500 through the 2005 tax year (minus pension adjustments from your company pension plan).  This will rise to 16,500 for 2006 and $18,000 for the tax year 2007.  In addition you can contribute any unused personal RRSP room.

 

Considering an RRSP Loan?
 
 
Note This website is intended for Ontario Residents only.  While every effort is made to have an up to date and accurate site, it is not guaranteed.  Please contact Neil with any questions and/or clarifications.

 

Registered Retirment Savings Plan, RRSP, Save to purchase a home, Save for your education, Save for your retirment, A registered Retirment Savings Plan is tax deductable and you can differ the tax's.  A Ontario RRSP is one of the fastest ways to accumulate funds.  RRSP Toronto, RRSP Ontario, RRSP Canada, RRSP's - segregated funds or mutual funds.  Bonds, Money Market, GIC's Canadian Equities, US Equities, Global RRSP Funds, Energy funds, Realestate funds.  Get your RRSP today before the RRSP Deadline.