Quote:
Originally Posted by Bushleague
If RRSP's were any good, the government wouldn't be doing their darndest to get us all to buy them.
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If you use them properly, they can be very beneficial. I was making more than twice as much when I contributed them, and I now draw some every year, and am being taxed much less than I would have been when I earned the money. And my RRSPs were invested, and grew significantly over the years. The only issue, is if you don't live long enough to draw it out, and whoever inherits your RRSPs is taxed as if the money was all drawn out as a lump sum.