Tag

RRSP
Hi Ross: My 18yr old goes into CIBC in Victoria requesting an RRSP account to deposit $50/month Bank says “No, you should get a TFSA” Kid leaves confused because Mom taught her to get RRSP @ 18 but the bank says Mom is wrong. Now what do I tell her? Thanks, Mandy. From Ross: Mum...
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Many self respecting Canadian personal finance bloggers have written their two cents worth about the tax free savings account, but don’t expect that to slow down. Just as RRSP’s became revered and oft discussed in past years, the TFSA will only assume more space in our consciousness as cumulative contribution limits increase by $5,000 each...
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A few weeks ago I was approached by a writer from the USA who was doing an article on RRSP’s, comparing Canadian and American retirement planning strategies. He asked me to help him, as his knowledge of RRSP’s was about the same as my knowledge of 401K plans. (limited!) He had four simple but useful...
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