Top Reasons to Buy an RRSP

There are a few top reasons to buy an rrsp. One is you get tax back from the government after filing your taxes. This tax is not paid again until you retire and start to withdraw from your rrsp. And at that point you should only be withdrawing enough to live on and vacation with. Hopefully this is a lot less then you needed to earn while raising a family and paying a mortgage and other debts.

Another top reason to buy an rrsp is so you can have something saved for your retirement. Even if you will be getting a pension plan of some sort it is good to save your own rrsp. If for some reason you can not collect another pension plan when you retire you will at least have saved enough to survive on and not have to work part time to supplement your income.

For most Canadians an rrsp is the best way to save for retirement. Is it the only way? Of course not. Other ways are investing in real estate. Get my free report how to get the same tax deductions as you do with your rrsp but investing outside or your rrsp. Click here.