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.

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If you are like many Canadians, you are probably just turning your attention to your RRSP and retirement portfolio. In fact, it may be the first time you’ve contemplated your retirement plan in a year, so you should probably sit down and do some reading before heading in to see your financial advisor. This post […]