The Basic Rules of RRSPs

The Registered Retirement Plan (RRSP) is one of the best tax shelters available in the world. The government gives you a big tax write-off every time you contribute plus you get to shelter the investment income until the time comes for you to use it. Your RRSP should be your largest source of retirement income. According to Gordon Pape, This will only happen if you do two things:

1. Contribute the maximum: possible amount to your plan each year.
2. Manage your RRSP Assets: so as to obtain the highest possible return, consistent with the degree of risk you're prepared to accept.