Contribute early and regularly to your RRSP
It’s no secret: A Registered Retirement Savings Plan (RRSP) plays a key role in retirement planning. But did you know that you can increase your investment returns by contributing earlier in the year?
If you start contributing to your RRSP annually on January 1, it provides more time for your money to grow, making a significant difference on your retirement savings. Monthly contributions are also a great option, particularly if your budget won’t allow for one large contribution at the beginning of the year.
The rate of return shown is used only to illustrate the effects of the compound growth rate and is not intended to reflect future values or returns on investment. Written and published by Investors Group as a general source of information only. Not intended as a solicitation to buy or sell specific investments, or to provide tax, legal or investment advice. Seek advice on your specific circumstances from an Investors Group Consultant. Trademarks, including Investors Group, are owned by IGM Financial Inc. and licensed to its subsidiary corporations.