The RRSP is one of the most effective tools available to help you save for retirement. The calculator on the next page lets you explore five basic strategies to help you enhance the growth of your RRSP. Each strategies has even greater impact.
Increase your annual contribution
The best growth in your RRSP will be achieved when you contribute as much as possible in each of your working years.
Contribute early in the year
Your RRSP will grow to a larger value simply by changing the time of year when you contribute.Start
Contributing early in life
Contributing early in your career, even if you start with smaller contributions, is one of the best ways to grow your RRSP.
Contribute longer by retiring later
Retiring later, even by a few years, can add extra contributions and growth to your RRSP.
Earn a higher rate of return
Earning a higher rate of return, even by 1% or 2%, can make a difference over the long term. Stay within your risk tolerance.