Registered Retirement Savings Plan (RRSP) allows you to invest and grow your savings tax-deferred until you retire.
RRSPs have various tax advantages compared to investing outside of a registered account. Within an RRSP, you do not pay tax on any investment growth. You only pay tax when you withdraw the funds.
This tax deferral allows you to compound your wealth at a much faster pace than other taxable investment vehicles and in turn, retire earlier!
Learn more about the RRSP here.
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