The RRSP first 60-day rule

Now it is so-called RRSP season because many of us have a habit to contribute to RRSP right before the March 1st deadline. Some also like to put their annual bonus towards RRSP which is usually paid out around this time. Since RRSP is a saving towards retirement that we can’t access now, it takesContinue reading “The RRSP first 60-day rule”

Costly mistakes of Home Buyer Plan

Home Buyer Plan is a Canadian government sanctioned program allows first-time home buyers to withdraw up to $35K from their RRSP for down payment. The incentive is that no tax will be withheld at withdrawal. Home buyers have to pay it back within the next 15 years by contributing to their RRSP accounts.  When theyContinue reading Costly mistakes of Home Buyer Plan