{"id":554,"date":"2025-09-20T15:39:10","date_gmt":"2025-09-20T15:39:10","guid":{"rendered":"https:\/\/yourwealthadvisor.ca\/?page_id=554"},"modified":"2025-10-31T07:13:37","modified_gmt":"2025-10-31T07:13:37","slug":"registered-retirement-savings-plan","status":"publish","type":"page","link":"https:\/\/yourwealthadvisor.ca\/en\/registered-retirement-savings-plan\/","title":{"rendered":"Registered Retirement Savings Plan"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"554\" class=\"elementor elementor-554\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-fb5da9b e-flex e-con-boxed e-con e-parent\" data-id=\"fb5da9b\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;gradient&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-1c822ca e-con-full e-flex elementor-invisible e-con e-child\" data-id=\"1c822ca\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;animation&quot;:&quot;fadeInLeft&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5889bd7 elementor-widget elementor-widget-heading\" data-id=\"5889bd7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Registered Retirement Savings Plan (RRSP)<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fa12837 elementor-widget elementor-widget-text-editor\" data-id=\"fa12837\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><strong>The savings account that keeps on giving.<\/strong><\/p><p data-start=\"612\" data-end=\"838\">An <strong data-start=\"615\" data-end=\"623\">RRSP<\/strong> helps you save for retirement, reduce your taxes today, and grow your money tax-free until you retire.<\/p><p data-start=\"612\" data-end=\"838\">It\u2019s the smart, flexible way to build your future financial security \u2014 and even help you buy your first home.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-80f2184 elementor-widget elementor-widget-button\" data-id=\"80f2184\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"#\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Speak with an Advisor<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-c1bf4c7 e-flex e-con-boxed e-con e-parent\" data-id=\"c1bf4c7\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-deb949e e-con-full e-flex e-con e-child\" data-id=\"deb949e\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a262217 elementor-widget__width-inherit elementor-widget elementor-widget-heading\" data-id=\"a262217\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Why Open an RRSP?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-94cdb8b elementor-widget elementor-widget-heading\" data-id=\"94cdb8b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">1 - Pay Less in Taxes Today<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b4497f1 elementor-widget elementor-widget-text-editor\" data-id=\"b4497f1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Contributions to your RRSP are <strong data-start=\"942\" data-end=\"960\">tax-deductible<\/strong>, meaning they reduce your taxable income \u2014 and that means <strong data-start=\"1019\" data-end=\"1043\">you pay less tax now<\/strong> while saving more for your future.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1d59042 elementor-widget elementor-widget-heading\" data-id=\"1d59042\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">2 - Grow Your Money Tax-Free<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ffe8de4 elementor-widget elementor-widget-text-editor\" data-id=\"ffe8de4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p data-start=\"1117\" data-end=\"1256\">Your investments inside an RRSP grow <strong data-start=\"1154\" data-end=\"1171\">tax-sheltered<\/strong> until you withdraw them, usually when you\u2019re retired and in a <strong data-start=\"1234\" data-end=\"1255\">lower tax bracket<\/strong>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ed47216 elementor-widget elementor-widget-heading\" data-id=\"ed47216\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">3 - Use It Toward Your First Home<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f82d124 elementor-widget elementor-widget-text-editor\" data-id=\"f82d124\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p data-start=\"1300\" data-end=\"1475\">Through the <strong data-start=\"1312\" data-end=\"1339\">Home Buyers\u2019 Plan (HBP)<\/strong>, you can withdraw up to <strong data-start=\"1364\" data-end=\"1375\">$35,000<\/strong> from your RRSP (or <strong data-start=\"1395\" data-end=\"1417\">$70,000 per couple<\/strong>) to buy your first home \u2014 without paying tax immediately.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bbc232e elementor-widget__width-inherit elementor-widget elementor-widget-heading\" data-id=\"bbc232e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How an RRSP Works<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7f8496a elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"7f8496a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Speak with a financial advisor to choose the best investment options for your goals.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Find your contribution room balance and plan your savings efficiently.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Use your RRSP contributions to reduce your annual income taxes.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Enjoy tax-free investment growth until retirement.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">When you reach age 71, your RRSP automatically converts into a Registered Retirement Income Fund (RRIF) \u2014 giving you regular income payments for retirement.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b29858d e-con-full e-flex e-con e-child\" data-id=\"b29858d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-f29c9cf elementor-widget elementor-widget-image\" data-id=\"f29c9cf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"735\" height=\"1102\" src=\"https:\/\/yourwealthadvisor.ca\/wp-content\/uploads\/2025\/10\/0cafc8b98145b88e556d619f26e0de36.jpg\" class=\"attachment-full size-full wp-image-1647\" alt=\"Why Open an RRSP?\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-260602b e-flex e-con-boxed e-con e-parent\" data-id=\"260602b\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ea7198f elementor-widget__width-inherit elementor-widget elementor-widget-heading\" data-id=\"ea7198f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Types of Investments You Can Hold in an RRSP<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cfd9f82 elementor-widget elementor-widget-text-editor\" data-id=\"cfd9f82\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p data-start=\"2045\" data-end=\"2098\">You can invest in a wide range of options, including:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-e0eb945 e-flex e-con-boxed e-con e-parent\" data-id=\"e0eb945\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-88bf3af e-con-full e-flex e-con e-child\" data-id=\"88bf3af\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-be0a69b elementor-widget elementor-widget-image\" data-id=\"be0a69b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"128\" height=\"128\" src=\"https:\/\/yourwealthadvisor.ca\/wp-content\/uploads\/2025\/10\/piggy-bank.png\" class=\"attachment-full size-full wp-image-1339\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a091ef2 elementor-widget elementor-widget-heading\" data-id=\"a091ef2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Mutual Funds<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-4465c43 e-con-full e-flex e-con e-child\" data-id=\"4465c43\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c344da4 elementor-widget elementor-widget-image\" data-id=\"c344da4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"128\" height=\"128\" src=\"https:\/\/yourwealthadvisor.ca\/wp-content\/uploads\/2025\/09\/money-insurance.png\" class=\"attachment-full size-full wp-image-862\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-11d66f2 elementor-widget elementor-widget-heading\" data-id=\"11d66f2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Segregated Funds<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-7a8b2b8 e-con-full e-flex e-con e-child\" data-id=\"7a8b2b8\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a5c367f elementor-widget elementor-widget-image\" data-id=\"a5c367f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"128\" height=\"128\" src=\"https:\/\/yourwealthadvisor.ca\/wp-content\/uploads\/2025\/10\/stock-market.png\" class=\"attachment-full size-full wp-image-1631\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f855184 elementor-widget elementor-widget-heading\" data-id=\"f855184\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Stocks &amp; Bonds<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f604f8e e-con-full e-flex e-con e-child\" data-id=\"f604f8e\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6d351d7 elementor-widget elementor-widget-image\" data-id=\"6d351d7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"128\" height=\"128\" src=\"https:\/\/yourwealthadvisor.ca\/wp-content\/uploads\/2025\/10\/certification.png\" class=\"attachment-full size-full wp-image-1634\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-122cb31 elementor-widget elementor-widget-heading\" data-id=\"122cb31\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">GICs<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-caf23ab e-flex e-con-boxed e-con e-parent\" data-id=\"caf23ab\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-6a66da3 e-con-full e-flex e-con e-child\" data-id=\"6a66da3\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6838c19 elementor-widget elementor-widget-image\" data-id=\"6838c19\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"128\" height=\"128\" src=\"https:\/\/yourwealthadvisor.ca\/wp-content\/uploads\/2025\/10\/notification.png\" class=\"attachment-full size-full wp-image-1588\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8867f31 elementor-widget elementor-widget-heading\" data-id=\"8867f31\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What to Know<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-54a0b85 elementor-widget elementor-widget-text-editor\" data-id=\"54a0b85\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p data-start=\"2620\" data-end=\"2695\">You can withdraw money from your RRSP anytime, but here\u2019s what to consider:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e53dc60 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"e53dc60\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-exclamation-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M504 256c0 136.997-111.043 248-248 248S8 392.997 8 256C8 119.083 119.043 8 256 8s248 111.083 248 248zm-248 50c-25.405 0-46 20.595-46 46s20.595 46 46 46 46-20.595 46-46-20.595-46-46-46zm-43.673-165.346l7.418 136c.347 6.364 5.609 11.346 11.982 11.346h48.546c6.373 0 11.635-4.982 11.982-11.346l7.418-136c.375-6.874-5.098-12.654-11.982-12.654h-63.383c-6.884 0-12.356 5.78-11.981 12.654z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><b>Immediate Taxes Apply<\/b><br>Withdrawals are subject to withholding tax, and the amount you take out will be added to your taxable income that year.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-exclamation-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M504 256c0 136.997-111.043 248-248 248S8 392.997 8 256C8 119.083 119.043 8 256 8s248 111.083 248 248zm-248 50c-25.405 0-46 20.595-46 46s20.595 46 46 46 46-20.595 46-46-20.595-46-46-46zm-43.673-165.346l7.418 136c.347 6.364 5.609 11.346 11.982 11.346h48.546c6.373 0 11.635-4.982 11.982-11.346l7.418-136c.375-6.874-5.098-12.654-11.982-12.654h-63.383c-6.884 0-12.356 5.78-11.981 12.654z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><b>Lose Contribution Room<\/b><br>Withdrawn amounts don\u2019t get added back \u2014 you permanently lose that contribution room.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-exclamation-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M504 256c0 136.997-111.043 248-248 248S8 392.997 8 256C8 119.083 119.043 8 256 8s248 111.083 248 248zm-248 50c-25.405 0-46 20.595-46 46s20.595 46 46 46 46-20.595 46-46-20.595-46-46-46zm-43.673-165.346l7.418 136c.347 6.364 5.609 11.346 11.982 11.346h48.546c6.373 0 11.635-4.982 11.982-11.346l7.418-136c.375-6.874-5.098-12.654-11.982-12.654h-63.383c-6.884 0-12.356 5.78-11.981 12.654z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><b>Impact on Retirement Goals<\/b><br>Taking money out early can set your retirement savings timeline back, reducing your long-term growth.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-29916cb e-con-full e-flex e-con e-child\" data-id=\"29916cb\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2061737 elementor-widget elementor-widget-image\" data-id=\"2061737\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"128\" height=\"128\" src=\"https:\/\/yourwealthadvisor.ca\/wp-content\/uploads\/2025\/10\/buy-home.png\" class=\"attachment-full size-full wp-image-1637\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fea43fe elementor-widget elementor-widget-heading\" data-id=\"fea43fe\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Home Buyers\u2019 Plan (HBP)<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-70331d5 elementor-widget elementor-widget-text-editor\" data-id=\"70331d5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p data-start=\"3170\" data-end=\"3218\">Use your RRSP to help <strong data-start=\"3192\" data-end=\"3215\">buy your first home<\/strong>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1010a53 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"1010a53\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">You and your spouse can each withdraw up to $35,000.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Funds must be in your RRSP for at least 90 days before withdrawal.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">You must repay the amount within 15 years, starting 2 years after withdrawal. If not repaid, the balance becomes taxable income.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-383610a e-flex e-con-boxed e-con e-parent\" data-id=\"383610a\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0cdf6a6 elementor-widget elementor-widget-image\" data-id=\"0cdf6a6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"128\" height=\"128\" src=\"https:\/\/yourwealthadvisor.ca\/wp-content\/uploads\/2025\/09\/scale.png\" class=\"attachment-full size-full wp-image-1083\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-80133f6 elementor-widget elementor-widget-heading\" data-id=\"80133f6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">RRSP vs TFSA \u2014 Key Differences<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d7e124b elementor-widget__width-inherit elementor-widget elementor-widget-html\" data-id=\"d7e124b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<style>\r\n.custom-table-wrapper {\r\n  width: 100%;\r\n  overflow-x: auto; \/* \u0627\u0633\u06a9\u0631\u0648\u0644 \u0627\u0641\u0642\u06cc \u062f\u0631 \u0645\u0648\u0628\u0627\u06cc\u0644 *\/\r\n  margin: 20px auto;\r\n}\r\n\r\n.custom-table {\r\n  width: 100%;\r\n  border-collapse: collapse;\r\n  font-family: Iransans, sans-serif;\r\n  text-align: center;\r\n  border-radius: 5px;\r\n  overflow: hidden;\r\n  min-width: 600px; \/* \u062c\u0644\u0648\u06af\u06cc\u0631\u06cc \u0627\u0632 \u0641\u0634\u0631\u062f\u0647 \u0634\u062f\u0646 \u0628\u06cc\u0634 \u0627\u0632 \u062d\u062f *\/\r\n  table-layout: fixed; \/* \u0633\u062a\u0648\u0646\u200c\u0647\u0627 \u0639\u0631\u0636 \u062b\u0627\u0628\u062a \u062f\u0627\u0634\u062a\u0647 \u0628\u0627\u0634\u0646 *\/\r\n}\r\n\r\n\/* \u0627\u0633\u062a\u0627\u06cc\u0644 \u0647\u062f\u0631 *\/\r\n.custom-table thead th {\r\n  background: #D4AF37;\r\n  color: #fff;\r\n  padding: 14px;\r\n  font-size: 16px;\r\n  font-weight: 600;\r\n  text-align: center;\r\n  white-space: nowrap;\r\n}\r\n\r\n\/* \u0633\u0644\u0648\u0644\u200c\u0647\u0627 *\/\r\n.custom-table td, \r\n.custom-table th {\r\n  border: 1px solid #ddd;\r\n  padding: 12px;\r\n  vertical-align: top;\r\n  text-align: center;\r\n  font-size: 15px;\r\n  font-weight: 400;\r\n  line-height: 1.6;\r\n  word-wrap: break-word; \/* \u0634\u06a9\u0633\u062a\u0646 \u0645\u062a\u0646 \u062f\u0631 \u0635\u0648\u0631\u062a \u0637\u0648\u0644\u0627\u0646\u06cc \u0628\u0648\u062f\u0646 *\/\r\n}\r\n\r\n\/* \u0631\u062f\u06cc\u0641\u200c\u0647\u0627 *\/\r\n.custom-table tbody tr:nth-child(even) {\r\n  background: #f9f9f9;\r\n}\r\n\r\n.custom-table tbody tr:hover {\r\n  background: #eef5ff;\r\n}\r\n\r\n\/* \u0645\u062a\u0646 \u0628\u0648\u0644\u062f \u062f\u0627\u062e\u0644 \u0633\u0644\u0648\u0644 *\/\r\n.custom-table td b {\r\n  color: #333;\r\n  font-weight: 500;\r\n  font-size: 15px;\r\n}\r\n\r\n\/* \u0648\u0627\u06a9\u0646\u0634\u200c\u06af\u0631\u0627\u06cc\u06cc \u0628\u0631\u0627\u06cc \u0645\u0648\u0628\u0627\u06cc\u0644 *\/\r\n@media (max-width: 768px) {\r\n  .custom-table-wrapper {\r\n    overflow-x: scroll;\r\n  }\r\n  .custom-table {\r\n    font-size: 14px;\r\n  }\r\n  .custom-table td, .custom-table th {\r\n    padding: 10px;\r\n  }\r\n}\r\n<\/style>\r\n\r\n<div class=\"custom-table-wrapper\">\r\n  <table class=\"custom-table\">\r\n    <colgroup>\r\n      <col style=\"width: 20%;\">\r\n      <col style=\"width: 40%;\">\r\n      <col style=\"width: 40%;\">\r\n    <\/colgroup>\r\n    <thead>\r\n      <tr>\r\n        <th>Feature<\/th>\r\n        <th>RRSP<\/th>\r\n        <th>TFSA<\/th>\r\n      <\/tr>\r\n    <\/thead>\r\n    <tbody>\r\n      <tr>\r\n        <td><b>When can you start<\/b><\/td>\r\n        <td>At 18, with a valid SIN and Canadian residency<\/td>\r\n        <td>After filing an income tax return with earned income<\/td>\r\n      <\/tr>\r\n      <tr>\r\n        <td><b>How long it stays open<\/b><\/td>\r\n        <td>Until Dec 31 of the year you turn 71 (then converts to RRIF)<\/td>\r\n        <td>For life<\/td>\r\n      <\/tr>\r\n      <tr>\r\n        <td><b>Contribution deadline<\/b><\/td>\r\n        <td>March 1 each year (you can apply to current or previous tax year)<\/td>\r\n        <td>None<\/td>\r\n      <\/tr>\r\n      <tr>\r\n        <td><b>Contribution limit<\/b><\/td>\r\n        <td>18% of last year\u2019s earned income or CRA annual limit (plus unused room)<\/td>\r\n        <td>$6,000 (2022), plus unused and withdrawn amounts<\/td>\r\n      <\/tr>\r\n      <tr>\r\n        <td><b>Withdrawals<\/b><\/td>\r\n        <td>Allowed, but contribution room is lost permanently<\/td>\r\n        <td>Fully flexible \u2014 withdrawn room is restored next year<\/td>\r\n      <\/tr>\r\n      <tr>\r\n        <td><b>Tax benefits<\/b><\/td>\r\n        <td>Contributions reduce taxable income; growth tax-deferred; withdrawals taxed at retirement<\/td>\r\n        <td>No deduction, but growth and withdrawals are tax-free<\/td>\r\n      <\/tr>\r\n    <\/tbody>\r\n  <\/table>\r\n<\/div>\r\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-27e041b e-flex e-con-boxed e-con e-parent\" data-id=\"27e041b\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-e4f4d1e e-con-full e-flex e-con e-child\" data-id=\"e4f4d1e\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;gradient&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-39a0b7f elementor-widget elementor-widget-heading\" data-id=\"39a0b7f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Open your RRSP<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0ad5b9a elementor-widget elementor-widget-text-editor\" data-id=\"0ad5b9a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p data-start=\"4817\" data-end=\"4864\">Plan your tax-efficient contribution strategy<\/p><p data-start=\"4817\" data-end=\"4864\">Build a customized investment portfolio<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-92886f4 elementor-widget elementor-widget-button\" data-id=\"92886f4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"#\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Contact an advisor<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Registered Retirement Savings Plan (RRSP) The savings account that keeps on giving. An RRSP helps you save for retirement, reduce [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"site-sidebar-layout":"no-sidebar","site-content-layout":"","ast-site-content-layout":"full-width-container","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"disabled","ast-breadcrumbs-content":"","ast-featured-img":"disabled","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"class_list":["post-554","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/yourwealthadvisor.ca\/en\/wp-json\/wp\/v2\/pages\/554","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yourwealthadvisor.ca\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/yourwealthadvisor.ca\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/yourwealthadvisor.ca\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/yourwealthadvisor.ca\/en\/wp-json\/wp\/v2\/comments?post=554"}],"version-history":[{"count":31,"href":"https:\/\/yourwealthadvisor.ca\/en\/wp-json\/wp\/v2\/pages\/554\/revisions"}],"predecessor-version":[{"id":1948,"href":"https:\/\/yourwealthadvisor.ca\/en\/wp-json\/wp\/v2\/pages\/554\/revisions\/1948"}],"wp:attachment":[{"href":"https:\/\/yourwealthadvisor.ca\/en\/wp-json\/wp\/v2\/media?parent=554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}