RRSP – Registered Retirement Savings Plan

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1 Response

  1. Leo T. Ly says:

    I maxed out both my TFSA and my RRSP every year. However, if I have to analyze what options is best, I would chose the option that provides me with the maximum combined value of the two contributions plus all the tax benefits and employer matching. My view is, the more money that I have working for me now will give me the potential for a higher amount of money to spend in the future. Some people may argue that you need to consider the tax consequences in your RRSP account when you retire. That is valid, but it isn’t a high priority. The priority now is to grow the money in these two accounts as much as possible. Once I have a decent amount of money when I retire, I will worry about the taxes. It’s a good problem to have.

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