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