RRSPs Are Getting a Bad Rap: Here's What You Actually Need to Know (Ep 107)

RRSPs are they a tool that even makes sense anymore? You contribute money, you get a tax refund, and it feels like a win. Then retirement hits and suddenly you're paying tax on every dollar you withdraw. It feels like you got scammed by your own retirement account.

In this episode, Sherry and Val dig into why RRSPs have such a bad reputation right now and whether it's actually deserved. They talk about the disconnect between putting money in (dopamine hit from the refund) and taking money out (tax bill surprise), and when each type of account actually makes sense for your situation.

They also break down the traps people fall into, including one that could mean you've been "investing" for years without your money actually growing at all.

If you've been contributing to an RRSP without fully understanding what happens later, or if you're trying to figure out where your retirement money should actually go, this episode will clear up the confusion.

Connect with us: 

Book a free call with Val (financial planner): https://calendly.com/valerie-stratford

Book a free call with Sherry (financial coach):https://app.acuityscheduling.com/schedule.php?owner=17480698&appointmentType=25737393