Why High Income Earners NEED RRSP?

Описание: How Does RRSP Taxation Work?
How many refunds Can You Get from your RRSP Contribution?
How does income tax work in Canada?
Ready to master RRSP contributions? This video dives into essential tax planning strategies and retirement planning concepts for different income brackets. Learn how RRSP explained can boost your financial health through smart tax benefits while getting practical insights for your financial future. 🎯 #RRSP #TaxPlanning #Retirement

Understanding RRSPs: Tax Benefits, Myths, and Strategies
In this video, a certified financial planner explains the intricacies of Registered Retirement Savings Plans (RRSPs) in Canada. The discussion covers the basic function of RRSPs, their tax-deferment advantages, common myths, and mistakes related to RRSPs. The video also delves into the significance of tax brackets, showing when it makes sense to contribute to RRSPs based on income levels. Additionally, tips on spousal RRSPs, RRSP loans, and the importance of timely contributions are provided. Learn about RRSP investment options and the implications of over-contributions, as well as estate planning for RRSPs.

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00:00 Introduction to RRSP
00:37 Understanding Tax Advantages
01:33 Common Myths About RRSP
02:45 Mistakes to Avoid with RRSP
04:17 RRSP Contribution Deadlines
06:44 Tax Brackets and RRSP Contributions
12:52 RRSP Refund Calculations
25:13 Spousal RRSP Explained
28:59 RRSP Loans and Over-Contribution
31:28 Investment Options in RRSP
32:09 Estate Planning with RRSP
33:05 Conclusion and Final Tips

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Host:
Ahmed Mahiyan:   / ahmedmahiyan  
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Disclaimer:
The videos and opinions on this channel are for informational and educational purposes only and do not constitute investment advice. Neither Speaker and/or Host nor Fire Financial provide specific financial recommendations. Please consult a registered professional for any financial. This channel is not responsible for any financial actions taken by viewers based on these videos.

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