This year’s March 2 deadline to contribute to a Registered Retirement Savings Plan (RRSP) is just a few days away, which means you need to know whether or not you should be making a deposit sometime soon.
But don’t worry, we’ve done all the hard work for you and broken down all the ‘whys and whats’ you need to know in order to make the right decision for your hard earned money.
Just remember to make that decision before March 2, or your RRSPs will have to wait another year to see their next contribution.
We’ve broken down the pros and cons of securing an RRSP loan depending on your financial situation.
If you have a limited amount of money to put somewhere, and you have a mortgage that allows you to make extra payments, the decision to contribute to your RRSP or put it toward your mortgage debt can be a tricky one.
There are other applications of RRSPs besides setting up a nice little financial nest egg for yourself once you quit the workforce.
And here are a couple of other articles that could come in handy this time of year: