How do RRSP deductions work

Let’s say that you make $60 000, and you contribute $1200 that year to your RRSP. That would be $100 a month.

Here is the math $60000 – $1200=$58800

Your taxable income goes from 60K to $58 800

Suppose you are part of a group RRSP at work and contribute through payroll deductions. You get a bigger bang for your dollar as you invest before tax is deducted. You may be contributing more than you know.

What are your retirement goals? Do you have a plan? It would help if you had a plan.

Let’s get you started on creating a plan and building a solid foundation, and leaving a legacy.

Here is a place to start

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