by ELLEN ROSEMAN
If you believe the ads, every Canadian who is eligible to contribute to an RRSP should do so ASAP.
It's your patriotic duty to put the maximum allowed into your registered retirement savings plan each year.
Don't fall for the propaganda.
Not everyone should contribute every year. Paying off high-interest debt might be a higher priority.
Moreover, many lower-income Canadians who do make RRSP contributions should consider cashing out before they turn 65.
By leaving their money in the plan, they could be subject to government clawbacks of social benefits such as the guaranteed income supplement or GIS, prescription drug subsidies, meals on wheels and home care.
More here as long as it lasts.
No comments:
Post a Comment