Registered Retirement Savings Plans

What are Registered Retirement Savings Plans (RRSPs)?

Back in 1957, when the federal government started to realize Canada's Pension Plan might not provide enough money for people to live on, they created a program called Registered Retirement Savings Plans.

You put in your own money, grow it by investing and, with a little hard work, you'll have money set aside to help fund your retirement (if that retirement involves a jet-set lifestyle in the south of France we can help, but you might need to work a little harder or save a little more!)

Tax Implications

The really cool thing: you can deduct what you contribute from your taxes today, and you don't have to pay tax on the growth inside the plan.

No taxes - until you use the money – that’s not bad. Many people expect or even plan to have a lower income (and therefore a lower tax rate) when they start using the money.

You’re doing it, aren’t you? Picturing your retirement. Are you on a beach, your boat, the golf course, or with your grandkids? That’s good, but come back to now for a moment. Everyone knows the markets go up and down, interest rates are historically low for your savings and growing your money beyond what you put in sometimes feels like it might be impossible.

That's why you have a Libro Coach. Your Coach will help keep your plan on track and keep your expectations real. Find balance between paying off debt today and investing for tomorrow. Help you help your kids get a leg up in life while leaving a little something to enjoy living today.

Libro is very good at helping Owners with their RRSPs. Talk to us today.

Contact a Coach

Ask us about:

  • RRSP Loans and when they make sense (and when they don't).
  • RRSP top-ups - how to maximize your contributions.
  • Pre-authorized savings plans for your RRSP - that's the best way to save pain-free.
  • Self-directed RRSP options.

*Credential disclosure and mutual funds disclaimer