5 Types of RRSPs

rrsp-pic_05 Types of RRSPs

1. Savings (Not suggested)

2. GIC

3. Canada RSP

4. Mutual Fund Plans

5. Self-Directed Plans (Canadian Neutral Balanced Fund)

RRSP (Home Buyers Plan) (HBP)

“First time home buyers” can withdraw up to $25,000 from their RRSP to purchase a home.

Life Long Learning Plan (LLP)

Individuals are able to withdraw $20,000 tax-free from their RRSP for full-time training.

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