RRSP's are a fantastic way to save for retirement. Here are the three main conditions that should be satisfied if you are considering saving in an RRSP:
1) You have money that you would like to save for retirement
2) You have RRSP contribution room
3) Your marginal tax rate is higher now than when you expect to withdraw the funds in retirement In this video, I walk through a simple whiteboard to illustrate the power of deferring taxes now to your retirement when you expect your taxes to be lower.
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