BMO's Financial Tip of the Week: Invest in an RRSP
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 01/06/12 -- As part of BMO Financial Group's ongoing commitment to financial literacy and 'Making Money Make Sense' for Canadians, BMO will be releasing a financial tip every week in 2012.
A study by BMO has found that almost 30 per cent of Canadians are unfamiliar with how an RRSP works. An RRSP can be a powerful and effective savings vehicle to fund one's retirement.
What is an RRSP?
An RRSP is a registered plan that allows you to save for retirement in a tax-efficient manner.
"Investing in an RRSP should be a staple in any retirement savings plan as it's the most effective tool in providing the funds needed to help Canadians be financially secure during retirement," said Tina Di Vito, Head, BMO Retirement Institute and author of 52 Ways to Wreck Your Retirement... and How to Rescue It. "Whether you've been contributing to an RRSP for years or are just getting started, make sure you invest on a consistent basis, regardless of the amount."
Here is how an RRSP can work to your advantage:
The example below illustrates the difference in savings between an RRSP and a non-RRSP investment. The impact this has on your investments can amount to a substantial difference over time - over $320,000 in the below scenario.
BMO Financial Group's RRSP Savings Calculator can help take the guesswork out of contributing to your RRSP by taking you through a few simple steps that will put you on the path to retirement success. Access it at .
Contacts:
Media contacts:
Amanda Robinson, Toronto
(416) 867-3996
Sarah Bensadoun, Montreal
(514) 877-8224
Laurie Grant, Vancouver
(604) 665-7596
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 06.01.2012 - 13:30 Uhr
Sprache: Deutsch
News-ID 101712
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contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Insurance
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