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YouTube video by Jayson Lowe advising viewers about RRSPs. The speaker emphasizes that RRSPs offer limited flexibility: contributions generate an immediate tax refund but are intended for retirement, and early withdrawals incur tax penalties.
YouTube video by Jayson Lowe advising viewers about RRSPs. The speaker emphasizes that RRSPs offer limited flexibility: contributions generate an immediate tax refund but are intended for retirement, and early withdrawals incur tax penalties.
The other part to be really considerate about when it comes to an RSP is the limited flexibility. Ultimately, you are putting money into an RRSP because you're getting a refund for that contribution. The premise of that plan is to be used for retirement, and if you withdraw it early, you're going to face penalty in the form of tax.
