In Canada a Registered Retirement Saving Plan is a program to encourage people to save for retirement.
The plan has a number of regulations, but the basics are that you can deduct your contributions up to a yearly maximum, the grow tax sheltered and are then taxable when withdrawn. You have to start withdrawn before December 31 in the year in which to turn 71.
More information on my website www.jpw.ca
If you would like to work with a local Retirement Planner, you could start with a Google search. For example if you search for: retirement planner Halifax or retirement planning Halifax, my name along with several others will come up. You can use the same method to find Retirement Planners in your community.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
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The plan has a number of regulations, but the basics are that you can deduct your contributions up to a yearly maximum, the grow tax sheltered and are then taxable when withdrawn. You have to start withdrawn before December 31 in the year in which to turn 71.
More information on my website www.jpw.ca
If you would like to work with a local Retirement Planner, you could start with a Google search. For example if you search for: retirement planner Halifax or retirement planning Halifax, my name along with several others will come up. You can use the same method to find Retirement Planners in your community.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.