| It may be several weeks away still, but why wait to | | | | amount that you earned from employment during the |
| the last minute to think about purchasing RRSP's. For | | | | previous year. This amount is set by the Canadian |
| some people these investments are taken care of by | | | | government. After your first year of filing your tax |
| their place of employment. However, if you're like | | | | return, the Notice of Assessment you receive from |
| thousands of people, the ability to purchase RRSP's is | | | | Revenue Canada will let you know your maximum |
| out of arm's 'financial' reach. | | | | allowable RRSP contribution. |
| So many people have held onto hopes of buying | | | | The main purpose of an RRSP is to help you save for |
| RRSP's but year-after-year, maxed credit cards and a | | | | your retirement. However, the government does |
| bad credit rating has stood in the way of getting a loan | | | | permit a person to use those investments for other |
| from the bank to make an investment. This need not | | | | important life goals, and there are no limitations on |
| be the case any longer. | | | | when you can and can't use your money. |
| It's never too late to start making a contribution and the | | | | Don't let the fear of having a bad credit rating stop you |
| best time starts now. Even if you have never made | | | | from taking control of your future. Everyone falls onto |
| any RRSP contribution in previous years, there's no | | | | bad times at some point in their life and there's reason |
| time like the present to get started. Don't let the lack of | | | | why bad times should prevent you from investing in |
| cash stop you from taking advantage of purchasing | | | | your future. While a standard financial institution may |
| an investment in your future. | | | | not be willing to lend to those with less than stellar |
| An RRSP loan can help you realize tax savings, | | | | credit, there are lenders out there that will approve |
| increase the eventual size of your investment and can | | | | even those with bad credt. |
| help you stick with a savings plan. As an added bonus, | | | | There are loan options available for everyone. With a |
| the tax refund that you may get as a result of your | | | | little research, you can find a reputable company who |
| contribution could help to pay down your loan. | | | | is willing to work with you in order to help you start |
| There is a limit on how much you can contribute every | | | | contributing to your future. |
| year. The maximum contribution is generally 18% of the | | | | |