Registered Retirement Savings Plans (RRSPs) are a great, tax-sheltered way to save for a comfortable retirement. It’s simple. Any investment in your RRSPs will have the taxes deferred until you withdraw your money, ideally in retirement when you’re in a lower tax bracket.
What is an RRSP?
An RRSP is short for Registered Retirement Savings Plan. It's a well-known phrase for good reason: an RRSP is one of the best ways to save for your retirement and save on taxes at the same time.
Some people think that an RRSP is an investment or something that you purchase. It's neither. An RRSP is a government-approved account specially designed to help you save money for your retirement.
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