Many years ago, when the government started to realize Canada's Pension Plan might not provide enough money for people to live on, they created a program called Registered Retirement Savings Plans. You put in your own money, grow it by investing and presto - you'll have enough money to live comfortably when you retire. And the really cool thing: you can deduct what you contribute from your taxes today, and you don't have to pay tax on the growth inside the plan. No taxes - until you use the money - not bad. Especially since many people have lower income (and lower taxes) when they start using the money.
Fast forward to now. Everyone knows the markets for investments are up and down, term deposit rates are very low and growing your money beyond what you put in is tougher than ever.
That's why you have a GFCU Account Manager. To keep your plan on track, to keep your expectations real, to find balance between paying off debt, investing for tomorrow, helping your kids and living a little now.
GFCU is very good at helping owners with their RRSPs. Talk to us today.
- Ask us about RRSP Loans and when they make sense (and when they don't).
- Ask us about RRSP top-ups - how to maximize your contributions.
- Ask us about pre-authorized savings plans for your RRSP - that's the best way save pain-free.
- Ask us about self-directed RRSPs.
Our Builder gives you the opportunity to make regular deposits to a plan -- monthly, twice per month, weekly, or bi-weekly. Deposits are automatically transferred from your chequing or savings account. Start a Builder anytime that is convenient for you with any amount.