RRSP contribution limits for Canadians continue to increase every year. Your allowable contribution is 18% of your income from the previous year to a maximum of $27,830 for 2019. You may also be able to tap into any unused contribution you have carried forward from previous tax years. That allowable contribution is deducted from your gross taxable income for the year and you may end up with a tax refund (which many recommend putting right back into your RRSP for next year or even a portion into your TFSA). This makes an RRSP an ideal first choice for savings especially for high-income earners.

On the other hand, an RRSP only defers payment of income tax until your retirement years and forced annual withdrawal amounts after age 71 may reduce government old age benefits. Those with a rich pension plan, working in retirement or major sources of alternative income may want to consider additional savings options such as a TFSA, in consultation with a financial advisor.

1,079 thoughts on “RRSP PROs AND CONs

  1. fcqfrarrig says:

    quick online payday loans no credit check quick pay payday loans quick loan quick loans review private lenders funding quick loans no collateral no up front fees no vredit checks

    quick personal loans online quick lapp for sba loans quick loan quick and loans quick cash loans tulsa ok

  2. awswiarrig says:

    imgclick will easily make money sharing photos friends social free file upload how does venmo make money make money ways to make money fast legitimate ways make extra money

    photos imgclick easily make money sharing will friends social free file upload make money on youtube make money best ways to make money easy ways to make money online

    http://sergeydrive.ru/ – make money

  3. yzrukgemia says:

    tadalafil en ligne generic for cialis tadalafil tadalafil 5mg tadalafil 10mg prix buy tadalafil

    cheap tadalafil tadalafil 20mg prix cialis tadalafil tadalafil 10mg prix tadalafil prix en pharmacie

    https://supertadalafil.com/ – generic cialis tadalafil

    tadalafil 20 mg prix tadalafil biogaran prix tadalafil liquid adcirca tadalafil tadalafil 20mg prix

    tadalafil cost tadalafil 20 mg best price tadalafil cialis tadalafil generique en pharmacie tadalafil biogaran prix

    https://xtadalafilx.com/ – generic cialis tadalafil

  4. qakpfgemia says:

    cheap tadalafil tadalafil 20 mg prix generic tadalafil tadalafil liquid tadalafil vs vardenafil

    tadalafil 5mg tadalafil generique tadalafil cialis generic cialis tadalafil 40 mg buy cialis ebay find tadalafil

    https://supertadalafil.com/ – tadalafil 5mg

    tadalafil vs viagra tadalafil canadian pharmacy tadalafil liquid what is tadalafil tadalafil avis

    tadalafil biogaran prix buy tadalafil online tadalafil cialis tadalafil tablets tadalafil 10mg prix

    https://xtadalafilx.com/ – generic tadalafil

  5. ixjfjgemia says:

    tadalafil 20mg tadalafil 10mg prix tadalafil dosage generic cialis tadalafil best buys tadalafil cost cvs

    generic for cialis tadalafil tadalafil generic cialis 20 mg tadalafil dosage tadalafil generic cialis 20 mg cialis generic tadalafil

    https://supertadalafil.com/ – cialis tadalafil

    tadalafil tablets 20 mg generic cialis tadalafil 20mg tadalafil cialis tadalafil reviews tadalafil dosage

    tadalafil powder interactions for tadalafil tadalafil 20mg generic cialis tadalafil best buys tadalafil biogaran 20 mg prix

    https://xtadalafilx.com/ – tadalafil reviews

  6. lwysrgemia says:

    tadalafil 20 mg tablet tadalafil en ligne buy tadalafil online tadalafil generic tadalafil tablets

    generic cialis tadalafil cialis tadalafil tadalafil 20mg tadalafil tablets buy tadalafil

    https://supertadalafil.com/ – tadalafil cialis

    tadalafil 20 mg prix tadalafil en ligne buy tadalafil online tadalafil prix en pharmacie tadalafil generic cialis 20 mg

    tadalafil 20 tadalafil 5 mg tadalafil 20 mg mylan tadalafil tadalafil side effects

    https://xtadalafilx.com/ – generic tadalafil