Registered Retirement Savings Plan (RRSP)
With rising living costs and inflation, it’s worrying to think about retirement. Thankfully, the government has a variety of retirement savings plans to help you prepare for old age.
What is an RRSP?
A Registered Retirement Savings Plan, known as an RRSP, helps you save money for retirement. As long as you are below the age of 71, you are eligible. With special tax advantages, your contributions to this plan are tax deductible and any taxes on investment growth will be deferred till you withdraw those funds. The earlier you invest, the more money you make. Your RRSP contribution can also be used as a first-time home buyer RRSP.
At Life100, our experience in retirement plan management can help you build the right solution for you and your loved ones. We’ll help you understand your RRSP limit and how to develop the best plan of action to maximize your retirement investments, anywhere in Ontario, whether that is Toronto, Brampton, Ajax, Markham or in the Greater Toronto Area. Speak with an advisor today.
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