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dollar cost averaging

Too late for RRSPs?

on Mon, 03/13/2017 - 04:30

Deadline for 2016 RRSP contribution had passed. You think it is then too late to do RRSPs? No... Never too late. 

The amount you do now and later, of course, cannot be used to lower your income in 2016 but it can be used towards 2017 and beyond's income level. 

Bear in mind, doing it early is always better than later. Here is why:

1. Less stress

When you have lots on the plate and still have to scramble to get last minute RRSP contribution in, that's very stressful 

2. Less financial burde

You can start a monthly contribution so that you don't have to try come up with a lumpsum at