10 Must-Know Answers to Your RRSP Questions

Women's Wealth Canada

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In this episode of the Women’s Wealth Canada Podcast, host Glory Gray shares her personal journey of planning early retirement for her husband, Squatch, using the same strategies she applies with her clients. From assessing household expenses to leveraging RRSPs and mindful saving, Glory breaks down the practical steps that made early retirement a reality.

Then, she dives into the 10 Must-Know Answers to Your RRSP Questions, offering valuable insights on:

• What an RRSP is and how it works.
• How RRSPs help reduce taxes and build long-term wealth.
• Contribution limits, deadlines, and withdrawal rules.
• Special programs like the Home Buyers’ Plan and Lifelong Learning Plan.
• The differences between RRSPs and TFSAs.

Whether you’re just starting your retirement savings journey or looking for ways to optimize your RRSP strategy, this episode is packed with actionable tips to help you take control of your financial future.

Hosted by Glory Gray
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Chapter

1. 10 Must-Know Answers to Your RRSP Questions (00:00:00)

2. Introduction (00:00:40)

3. How We Planned for an Early Retirement (00:01:53)

4. 10 Must-Know Answers to Your RRSP Questions (00:07:43)

5. What is an RRSP? (00:07:56)

6. How do RRSPs reduce taxes? (00:09:34)

7. What is the amount of the RRSP contribution limit? (00:11:25)

8. When is the deadline to contribute to my RRSP? (00:12:28)

9. What happens to my RRSP when I retire? (00:13:30)

10. How do RRSP withdrawals work? (00:14:38)

11. Can I use my RRSP for something other than retirement? (00:16:33)

12. Should I contribute to an RRSP or a TFSA? (00:17:40)

13. What happens to my RRSP if I pass away? (00:18:29)

14. How can I transfer my RRSP to a different financial institution? (00:21:07)