Start Planning for Your Future Whether you are just starting a new job or close to retirement, it’s important to understand the benefits of an RRSP. A Registered Retirement Savings Plan (RRSP) is an investment account designed to help you save for retirement. The advantages of an RRSP are: - All contributions are tax deductible - Income from your RRSP is not taxed until withdrawn - By the time you begin to withdraw the funds at retirement, you will be in a lower tax bracket, and funds withdrawn at that time will benefit from this lower tax rate While you can contribute to your RRSP anytime during the year, most people wait until January or February. One of the most effective ways to build your RRSP is to set up automatic bi-weekly or monthly contributions as this will help your money start working for you sooner. Don’t miss out on this golden opportunity to save for retirement by contributing to an RRSP. Come on Over to the Niverville Credit Union so we can help you plan for your future.
Posted on: Thu, 27 Nov 2014 21:00:00 +0000
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