Skip to main content

RRSP Builder Account

It’s a Good Time to Start Saving for Your RRSP

You know you’re supposed to be saving for your retirement, but you don’t have the kind of money you need to get things started.

Or at least that’s what you tell yourself. Maybe next year, after you pay for the long due Mexico trip you just took (or whatever you think might be holding you back). You need to start planning for your financial future- let’s help you get started.

Just what is an RRSP? Well…

RRSPs, or Registered Retirement Savings Plans, are a financial tool that Canadians can use to save for their retirement. You don’t pay tax on the money you put in your RRSP, in fact your contribution can help generate a potential tax refund next time round.

And you don’t pay on any interest you earn inside your RRSP. You pay tax on that money when you take it out. And your income during your retirement is probably going to be less, so…

But you can also use your RRSP for other things. The government of Canada allows you to use money in your RRSP for a down payment on your first home. So don’t wait on your RRSP just because you still haven’t bought that dream home yet…

But I don’t have that kind of money just lying around

What if we told you that you can get started with just $50. And then $50 every month after that.

This is a common technique used in the world of personal finance. We call it Pay Yourself First. And it’s the first step to building your financial future.

Get started today – you’ll be happy you did

Okay, so finding $1200 at tax time can be a real challenge. But soon you’ll figure out that putting aside $100 every month is easier. And after a few months, you’ll probably forget you’re even doing it. Until tax time, that is.

Your team at Community Savings is here to help. With the RRSP Builder Account, you’ll automatically contribute whatever you decide on - $50, $60, $100 every month.

And just like that you will:

  • reduce your taxable income
  • set yourself up for the chance at a refund on next year’s tax return, and
  • start saving for your retirement

It’s that simple.

We’re here to help - every step of the way

Keep it simple. Set up your automatic contribution plan. That’s the important part.

You’ll earn interest on your contributions, equivalent to our One Year Deposit. And that interest begins to build the day you put the money in rather when you put the money in all at once at tax time.

And as your money grows our team of financial advisors can help you choose other investment tools to make your money do even more.

The Important part is taking that first step

Maybe you’re still nervous about the whole thing. Maybe it sounds like too much work.
You don’t need to be nervous. It’s not that hard to get started. Really! All you need to do is:

  • Send us an email. Someone will get back to you to discuss your options and get things started.
  • Call us. We’ll put you in touch with a financial advisor right away.
  • Go into your local branch. Our staff can help you get started.

It’s your future – Make the most of it

Retirement probably feels like it’s a long way off right now. But it’s never to soon to get started. Or too late. We’re here to help. You know that. So, come on. Let’s get started.

Get started, call 604-654-2000