This year’s deadline for contributing to your Registered Retirement Savings Plan (RRSP) is February 29. 2016.
An RRSP is an account that you use to save for your retirement. It is registered with the federal government, and you set it up through a financial institution. There are different investment products that you can hold in your RRSP account. You can discuss with your financial advisor what types of investments an RRSP account can contain. You can also visit the Investing 101 or Informed Investing sections of InvestRight to find out more about various investment products.
You do not have to rush into a decision about a particular investment product at deadline time. As long as you make your contribution by the deadline, you can determine where you want the funds to be allocated at a later date.
I met Garth Rustand several years ago before he started Investors Aid Co-Operative of Canada. He had worked in the financial services industry for over 10 years so he understood how the industry worked. At the time I met him, he talked about consumers having a hard time understanding the complexities of investing in the […]
BCSC adds information about Exchange-Traded Funds As we discussed in an Investor Watch from 2009, certain Exchange Traded Funds may not be appropriate for retail investors. Today, we’ve added an advisory from the North American Securities Administrators Association to the ETF page of our website, which discusses the risks and costs associated with this increasingly […]