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MoneySense magazine Canadian Business magazine PROFIT magazine

Make your RRSP contribution now, worry later

Used on MoneySense

Canadians have until March 1 to make their RRSP contribution for the 2012 tax year. The most important thing is to get the money in now and worry about how to invest it later, MoneySense Editor Jonathan Chevreau tells CityNews Channel.

3 Responses to “Make your RRSP contribution now, worry later”

  1. CFO Solutions says:
    May 7, 2013 at 6:28 am

    Good information. Let me put it this way, you have helped me make a decision on where to invest money in the market. Thanks.

  2. Nate says:
    April 16, 2013 at 12:05 pm

    Check with your employer to see if you can set up a bi-weekly or monthly contribution to your RRSP directly from your paycheck.

  3. Tom Hanger says:
    March 10, 2013 at 12:21 am

    Great tips. Even if you don't know what you should invest in (or don't think it's a good time to invest) making the cash contribution will allow you to get the benefit in the current period, and allow you to thoroughly research your investments.

    Also, making the contribution doesn't mean you have to claim the deduction right away – you can carry that forward to future years.

    Appreciate the video!