Everything You Need to Know About RRSPs Before This Year’s Deadline

RRSPs
Image by Nattanan Kanchanaprat from Pixabay

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.

Tax Time: Should You Take Out a Loan to Contribute to Your RRSPs?

We’ve broken down the pros and cons of securing an RRSP loan depending on your financial situation.

Tax Time: Should You Contribute to an RRSP or Pay Down Your Mortgage?

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.

Tax Time: Four Questions to Help You Decide Between RRSPs and TFSAs

If you’re confused about the difference between an RRSP and a TFSA, you’re not alone.

Other Than Retirement, What Else Can You Use RRSPs For?

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:

More from Toronto Storeys

This week’s news: Toronto Community Housing tenants evicted for crime shouldn’t be rehoused, council says

Our weekly round-up of real estate news in Toronto, across Canada and...
Read More

Leave a Reply

Your email address will not be published.