RRSP stands for Registered Retirement Savings Account and is a tax-deferred way of putting money aside for retirement. Because of its tax-sheltering power, the RRSP is one of the best investment accounts available to Canadians.
We've got lots of articles on the RRSP but we bet you're looking for one of these:
- Everything You Need to Know About The RRSP Explained
- How to Use the RRSP First-Time Home Buyer's Plan
Don’t let the name fool you! Your Registered Retirement Savings Plan doesn’t have to be a savings account. You can (and should) use this account to invest in the stock market. You can open an RRSP to hold stocks, bonds, ETFs and more, to supercharge your long term savings and meet your lifetime financial goals!
You can even use your RRSP to put a down payment on your first home, or to pay tuition & fees when you go back to school. This account has so many uses that will give you more choices and financial security over your lifetime.