快樂牛郎

you can always withdraw your rrsp whenever you like, all you have to do is pay back the tax
if you are not staying in canada and not paying income tax in canada, there is no point for you to buy rrs ...
ricrick 發表於 2010/2/8 00:17

It's not even clear if you can actually "save" through RRSP, since you don't know what your future liabilities will be.

ricrick

Supposed you've accumulated 150K in RRSP over say 15 years.

Suddenly Canada jacks up your tax rate to 40%.

What would you do then?

Withdraw all your RRSP at once and pay $60K in taxes?
快樂牛郎 發表於 2010-2-8 01:51

Typically, you are not supposed to withdraw money from the RRSP before you retire, and u are forced to do so..
unless you are 1st time home buyer
the main purpose of rrsp is to save money for your retirement

zuesel

We try to buy rrsp to lower our taxes. With the return we get back, we put towards our mortgage as a one shot deal per year in addition to our monthly mortgage payment. We are quite pleased that our mortgage will be paid in full a lot sooner than we expect!

tofu

you don't buy rrsp becos...
1. no taxable income in canada
2. too poor that you don't have the money to contribute
3. too rich that you don't need to care your life after retirement
4. too rich that you really want to pay your income tax in full

maybe she has a really good RPP or she has child credit/disability credit...many different types of credit to write of her income

大C姐

you don't buy rrsp becos...
1. no income in canada
2. too poor that you don't have the money to contribute
3. too rich that you don't need to care your life after retirement
4. too rich that you rea ...
ricrick 發表於 2010-2-8 01:05

我唔買係...因為我好多tax credit。

雖然我都係一個死窮鬼﹐但係真係唔覺得RRSP夠我退休﹐所以唔會靠佢。而且RRSP真係唔夠flexible﹐呢個係好多人覺得唔方便嘅地方。

-- 世界居民大C姐

ricrick

to save money, you don't want it flexible, you want it stable

mcjohnjohn

to save money, you don't want it flexible, you want it stable
ricrick 發表於 2010-2-9 10:26

如果係投資既話, 我又覺得flexibility 都幾緊要架woh~

tofu

"""因為我好多tax credit"""
can you share what kind of tax credits you get?  help us to save some money ma.

flexible is good or not really depend on yourself la.  some people will need to force to save money, so flexible means spend it easier or never able to save

快樂牛郎

some people will need to force to save money, so flexible means spend it easier or never able to save

They need a psychiatrist, or a therapist, not RRSP

ricrick

如果係投資既話, 我又覺得flexibility 都幾緊要架woh~
mcjohnjohn 發表於 2010-2-8 19:53

rrsp is like 強積金 in hk.. however it is not 強積
ofcos there is no flexibility, cos you are not supposed to take it out b4 retirement