Registered Retirement Savings Plans (RRSP)
  1. RRSPs: Introduction
  2. RRSPs: The Benefits
  3. RRSPs: Eligibility
  4. RRSPs: Contributing - Part 1
  5. RRSPs: Contributing - Part 2
  6. RRSPs: Investment Eligibility
  7. RRSPs: Growth
  8. RRSPs: Withdrawals
  9. RRSPs: RRIFs
  10. RRSPs: Registered Plan Strategies
  11. RRSPs: Conclusion

RRSPs: Introduction

By Investopedia Staff | Updated March 27, 2015 — 4:33 PM EDT

This tutorial is your one-stop RRSP shop. Here we explore the ins and outs of RRSP planning and investing. Specifically, we look at what an RRSP is, what its advantages are, how you can set one up and how you can get the most out of your RRSP account.

RRSP is an acronym for Registered Retirement Savings Plan. RRSPs are the Canadian government's way of helping citizens save their money for retirement. Saving for 30 to 40 years of retirement may seem like a daunting task, but well-planned contributions and withdrawals from your RRSP can be a great way to get the best bang for your retirement buck.

In this tutorial, we cover the basics of saving, taxes, compounding and asset allocation strategies. We even help you to figure out how much you will need to retire comfortably. (If you need a refresher on retirement savings in general, check out our Retirement Planning Tutorial.)

We can't promise that planning for retirement using RRSPs is going to be an investment thrill-ride, but we can tell you that if you overlook the advantages of RRSPs, you will likely be the worse for it. So let's get into it!

RRSPs: The Benefits

  1. RRSPs: Introduction
  2. RRSPs: The Benefits
  3. RRSPs: Eligibility
  4. RRSPs: Contributing - Part 1
  5. RRSPs: Contributing - Part 2
  6. RRSPs: Investment Eligibility
  7. RRSPs: Growth
  8. RRSPs: Withdrawals
  9. RRSPs: RRIFs
  10. RRSPs: Registered Plan Strategies
  11. RRSPs: Conclusion
RELATED TERMS
  1. Self-Directed RRSP

    A type of RRSP (Registered Retirement Savings Plan) whose owner ...
  2. Registered Retirement Savings Plan - RRSP

    A legal trust registered with the Canada Revenue Agency and used ...
  3. Registered Retirement Savings Plan Contribution - RRSP Contribution

    Assets invested in an RRSP. RRSP contributions can be made at ...
  4. Matured RRSP

    A Canadian retirement savings vehicle that is registered with ...
  5. Registered Retirement Savings Plan Deduction Limit - RRSP Deduction Limit

    The maximum amount that the Canada Revenue Agency (CRA) allows ...
  6. Pension Adjustment - PA

    The amount of contributions that can be made to a Registered ...
RELATED FAQS
  1. What are the main reasons to obtain a Registered Retirement Savings Plan (RRSP)?

    Learn about some of the major benefits of opening and contributing to a Registered Retirement Savings Plan throughout your ... Read Answer >>
  2. What are the main reasons not to get a Registered Retirement Savings Plan (RRSP)?

    Find out some of the reasons why you might want to reconsider opening up a Registered Retirement Savings Plan and instead ... Read Answer >>
  3. Is a Registered Retirement Savings Plan (RRSP) taxable in the U.S.?

    Learn how the IRS treats Canadian Registered Retirement Savings Plans that are held by U.S. citizens or residents, and discover ... Read Answer >>
  4. What are the penalties for early withdrawal from a Registered Retirement Savings ...

    Learn about the three major penalties associated with making an early withdraw from your Registered Retirement Savings Plan ... Read Answer >>
  5. Should a Canadian citizen who lives and works in the U.S. continue to contribute ...

    No, a U.S. resident should not contribute to a RRSP account. RRSP contribution rules allow you to contribute a certain percentage ... Read Answer >>
  6. How does a Registered Retirement Savings Plan (RRSP) loan work?

    Discover some of the most common and useful ways to take out a loan from your Registered Retirement Savings Plan without ... Read Answer >>
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