RRSP Season Is All Year Round

by Pam on June 6, 2011

Although the official deadline has passed now to be able to use your RRSP contributions for the 2010 tax year, it doesn’t mean that RRSP season is over.  In fact, it is better to contribute to your RRSP all year round than wait until the last possible minute to put a lump sum into it.

This year I challenge you to set up automatic payments into your RRSP every time you get paid.  That way you will not have to burden yourself with coming up with a lump sum every year.  If you discover that you still want to put in more, then you can top up your contributions before the deadline, but the lump sum will be far less of a burden.

Make this year easier for yourself by not waiting until the last second to contribute.  You will save yourself time, stress, and you will be paying yourself first.  Never forget that RRSP season truly is all year round and it doesn’t end after the first 60 days of the new year.

Start with an amount that you think you can afford.  Every year try to increase the amount you save.  Also increase it whenever you experience a pay increase. Remember, you can always lower it if you need to, but it’s important to be aware of the many people who never adequately saved for their retirement, and now they are regretting it.  You don’t want to be one of those folks.  So start saving today and make it easy by doing it automatically.

 

Related Post

Share

{ 0 comments… add one now }

Leave a Comment

Time limit is exhausted. Please reload CAPTCHA.

Previous post:

Next post: