RRSP FAQs
What’s the easiest way to contribute to RRSPs?
An automatic debit direct from your account allows you to budget, generate compound interest and you avoid the last minute rush to deposit. The difference can really add up.
What’s the benefit of doing my catch up contribution?
If you are in a high tax bracket and have room in your RRSP a catch up contribution may provide you with a significant tax break. Whether you’ve received an inheritance, sold real estate or even need to borrow funds to maximize your contributions our experts will assist you in deciding if this investment strategy is right for you.
I’m self-employed. How do I save for retirement?
Pay yourself first through an RRSP. Business economies change and so may the equity in your company. To secure, control, and protect your retirement, talk to us about investing in a RRSP today.
Are there other ways besides retirement that I can use my RRSP investments?
Yes, there are other options besides retirement funding. You can use this money to buy a home through the Home Buyer Plan or go back to school with the Lifelong Learning Plan.
At what age do I have to collapse my RRSP?
At the latest in the year in which you turn 71 but, you don’t have to wait until then. It may be of benefit for you to do it sooner. If you are near or into retirement speak to one of our investment professionals today.
What happens to my RRSP when I retire?
There are many options to choose from. Your RRSP savings are there to provide you with retirement income so you can enjoy your life as you’ve imagined. We’ll show you how.
How is an RRSP different from a TFSA?
RRSPs are income tax deductible. TFSAs are not tax deductible.
Is it more beneficial to contribute to a RRSP, TFSA or pay down my mortgage?
Your account manager or Advisor at VantageOne will be pleased to discuss individual needs to find the right solution for you.
Can I take out a loan to start or boost a RRSP?
Yes. We offer RRSP loans. Learn more here.