For years I’ve been told by most people who advise me in finances to buy RRSP’s, however while I file their advice away, I know RRSP’s aren’t for me. My dad had explained to me years ago how they just wouldn’t work for me, and it’s nice to see an official advisor say it as well!
He opens the article by pointing out ‘countless articles on the benefits of a Registered Retirement Savings Plan (RRSP) and told you over and over how important it is to have one.’
He then proceeds to say that just like all other things in the financial planning spectrum, this may not be the ‘one-stop solution’ for you.
Those who fall in the low-income brackets, close to retirement or those with a large pension plan may want to reconsider this option, or proceed with caution and calculations!
For more info, see Original Article here.