Best Planners Inc.

Investment

RRSP

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You know you should be contributing, and maybe you already are. But most people put money into an RRSP and leave it in whatever the bank defaulted it to — usually a savings account earning next to nothing. The account is just the container. What matters is what's inside it and whether the strategy matches where you're going.

The RRSP is a wrapper, not an investment

An RRSP is a tax shelter registered with the federal government. Contributions reduce your taxable income for the year you make them. The investments inside grow tax-deferred, meaning no tax on dividends, interest, or capital gains until you withdraw. At withdrawal, you pay income tax at your marginal rate — ideally lower in retirement than during your peak earning years.

Most of the mistakes people make with RRSPs happen not because they contributed too little, but because no one helped them think through what to hold inside the account and how it fits alongside their TFSA, mortgage, or pension.

What you can hold inside an RRSP

Segregated funds

Insurance-based investments that offer market growth with principal guarantees at maturity and estate benefits. A strong choice when you want market exposure but also want downside protection built in.

Mutual funds

Pooled investments managed by a professional fund manager. A practical way to hold a diversified portfolio inside an RRSP without tracking individual securities yourself.

Bonds

Fixed-income investments that provide steady, predictable returns. Often used to reduce portfolio risk as you approach retirement and want to protect what you have built.

Individual stocks

Direct ownership in publicly traded companies. Higher potential return, higher risk. Suitable for investors who want direct control over what they own.

GICs

Guaranteed Investment Certificates pay a fixed return over a set period. Your money is locked in for the term, but the return is guaranteed.

Accessing RRSP funds early

Home Buyers' Plan

First-time buyers can withdraw up to $60,000 from their RRSP tax-free toward a qualifying home purchase. The amount must be repaid over 15 years.

Lifelong Learning Plan

You can withdraw up to $10,000 per year (lifetime maximum of $20,000) to fund full-time training or education for yourself or your spouse. Repayment begins two years after your last withdrawal.

Service area

Jatinder Singh and his team serve clients across Ontario and Alberta. Appointments are available in person at 195 Queen St E, Brampton, or by phone.