RRSP season comes to an end!

RRSP season comes to an end today. If you didn't get a chance to contribute to your RRSP or you wonder why the heck you would even want to contribute to an RRSP... you should check out this article by Jonathan Chevreau via the National Post.

At the very end, the article says that saving (in this case for your RRSP) is a lot like exercising. If you want to run a marathon you would typically start to train for it by taking small runs and gradually doing longer runs. This example shows that savings is the same. Start small and each year - or every time your income increases - increase your savings amount. What I like best about this article, is the point about contributing early to your RRSP. Contributing early gives you more time to build your retirement account. While you cannot guarantee the money will be invested at the correct time (can never time the market) Chevreau explains the benefits of early contributions.

With many things in life, it always depends on your personal situation. What is right for others might not be right for you. By reading this, you'll learn more about your options and better ways to do what you may already be doing!

For another fun RRSP read check out this link:

To TFSA or to RRSP?

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