By June 15, 2017 Read More →

RRSP Savings and Income

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Your RRSP is one of the most effective tools available to help with retirement planning. Use this calculator to see how much your RRSP will be worth at retirement and how much income it will provide you during retirement.

See Also: Tale of Two RRSPs
See Also: Personal Pay Cheque

Here are five ways to have more money in your RRSP.

1. Increase your annual investment
The best growth in your investment will be achieved when you contribute as much as possible in each of your working years.

2. Invest early in the year
Your investment will grow to a larger value simply by changing the time of year when you contribute.

3. Start investing early in life
Investing early in your career, even if you start with smaller contributions, is one of the best ways to grow your RRSP.

4. Invest longer by retiring later
Retiring later, even by a few years, can add extra contributions and growth to your investment.

5. Earn a higher rate of return
Earning a higher rate of return, even by 1% or 2%, can make a dramatic difference over the long term.  Stay within your risk tolerance level when seeking investments with higher returns.

Use this calculator to see how much your RRSP will be worth at retirement and how much income it will provide you during retirement.


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