RRSP contributions for 2016 – it's that time again!

Posted in RRSP, Investments

Every year at this time, planning for your RRSP contributions and investing becomes top of mind.

Each year, the contribution limits for RRSP investing change. For instance, for the 2016 taxation year you need to know:

Deadline: March 1, 2017
Contribution Limit: 18% of your earned income in the preceding year to a maximum of $25,370

Although the deadlines and contribution limits are straightforward, RRSP investing the requires a bit more planning that just these details.

We believe strongly that you need to consider other factors, such as the length of time until your retirement, your risk tolerance, and how an investment in an RRSP account fits into your total investment picture.

We believe strongly that you need to consider other factors, such as the length of time until your retirement, your risk tolerance, and how an investment in an RRSP account fits into your total investment picture.

Planning ahead for the upcoming year, you may want to consider making monthly payments to your RRSP account. The compounding effect of making monthly payments over a longer period of time can have a significant impact on your rate of return. And ... it relieves some of the pain of pulling together a large contribution at the last minute.

Talk to us about the value of making monthly contributions to your RRSP and the benefits of compounding those early RRSP investments.