RRSP

An RRSP is a registered retirement savings plan that once established allows for deductions to reduce your tax. Any income earned in exempt from tax as long as it stays in the plan. It can be registered under your name or your spouse. If you contribute to a spousal RRSP then the deduction is under your name. Once funds are withdrawn from a RRSP they are withdrawn in a systematic withdrawal plan called a RRIF. The total withdrawn annually is added to your income at the end of the year.

There are many different way to invest in a RRSP and at Cochrane Wealth Management we strive to suit the investment to the clients needs and plan. Tax strategies are the key to any investment portfolio