| What is an RRSP? |
| Written by Lakefront |
| Friday, 11 June 2010 20:09 |
RRSP stands for Registered Retirement Savings Plan...RSP plans are designed to help you prepare for your retirement. Contributing to an RSP is advantageous because it generates a tax deduction, and grows tax free until your retirement. This investment plan will become your Registered Retirement Income Fund at age 71 or sooner. There are a few different options available when you contribute to an RRSP, including the following:
You are allowed to contribute up to 18% of the income you earned last year to an RRSP. The actual dollar amount you can invest is determined by the amount of money you made last year (up to $19,000). You can contribute to your RRSP until you turn 71 years of age. Contact Lakefront Capital Management at 250-306-8998 to learn more about RRSP's, and how you can benefit by investing and receiving tax deductions! |
| Last Updated on Sunday, 13 March 2011 19:27 |
