7 RRSP Planning Tips
Monday, February 8, 2010 at 10:50AM
By Marco Consoli
Contributing to your RRSP is one of the most beneficial and efficient ways to both save for retirement and reduce your taxes.
RRSPs offer immediate tax relief by lowering your taxable income. There are also ways to lower how much tax your employer withholds from your pay-cheques ensuring that you do not over-pay on your income tax - which is essentially providing the government with an interest free loan for the year.
RRSPs are also designed with the objective of long-term investing. The very nature of this type of investment vehicle is such that there is great incentive to avoid "dipping" into your savings. This encourages individuals to stay invested over the long-run and reap the full benefits of market activities. Remember, the tortoise wins the race.



























Morning Foreign Exchange Report
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Columnist, Canadian Money Magazine
Central Trader, Jameson Bank
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