What if there was a way that you could get the Canadian government to pay almost half of the money you needed to make an investment (be it for the purchase of stocks, mutual funds, guaranteed investment certificates, mortgages etc.). Then, when you’ve made money on that investment, through interest earned or capital gains, the government tells you that you don’t have to pay tax on it. Keep the profits, they say. Does that peak your interest? Do we have your attention, yet?

If you are among the one in three (38% to be slightly more accurate) Canadians currently taking advantage of the federal government’s most generous form of tax relief – the Registered Retirement Savings Plan – commonly known as the RRSP, then you already know what we’re talking about. For those of you that don’t but would like to learn more, read on.  Read More…


  1. It’s a wonderful investment idea but isn’t the only thing one can look to for savings. The reason it’s only 38% of Canadians is because many others put their savings into other areas such as stock market, GICs, high interest savings accounts, and the list goes on.

  2. Not sure if enough young people make enough to qualify for an RRSP..if they could or had generous parents to help out there later lives would benefit greatly

  3. The article fails to bring up the other beneficial Canadian plan…the Tax-Free Savings Account. Combining them both an average Canadian can really make some serious coin.

  4. It’s such a deal i’ve got my kids on the plan. They are 18, and 21.

  5. I am surprised only 38% of Canadians have an RRSP. With such a win-win situation i’d expect this # to be about 70-80%. Education is a problem in tihs country.

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