Make monthly RRSP contributions

Save once a month instead of once a year.

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An automatic monthly savings plan is easier and more realistic than hoping you have funds left over at the end of the year.

2 comments on “Make monthly RRSP contributions

  1. What I find disappointing about videos like this that discuss monthly RRSP contributions is that they don't address the fact that self-directed RRSPs that do not make use of expensive managed funds are essentially locked out of monthly contributions by the excessive per-trade fees associated with most Canadian brokerages.

    Reply

    • If you're into passive investing then try using TD e-series index funds for your TFSA and RRSP. You can set-up weekly, biweekly, monthly and even quarterly contributions without extra fees and the average MER for a couch potato portfolio is only 0.42%.

      However, if you're looking for ETFs then some brokerage firms offer synthetic DRIPs for some of their funds.

      Reply

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