Why RRSP Contributions Could Be HURTING Your Financial Future
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Most Canadians are told the same thing every year: "Max out your RRSP!" But in 2025, that advice might not actually be the best move for your financial future.
In this video, I break down 5 specific reasons why contributing to your RRSP could backfire this year—from low taxable income to better alternatives like the FHSA and TFSA. Whether you’re incorporated, already have a large RRSP, or saving for your first home, there might be smarter ways to grow your wealth.
🎯 Here’s what we cover:
Why RRSPs don’t make sense if your income is low
A better strategy for incorporated business owners
Hidden tax problems with a big RRSP
How pension plans affect your contribution room
Why the FHSA might be better than the RRSP for first-time homebuyers
RRSPs are a powerful tool—but only when used the right way. Watch until the end to make sure you’re not missing out on smarter, more tax-efficient alternatives.
#RRSP #CanadianTaxes #TFSA #FHSA #IncorporatedBusiness #RetirementPlanning #TaxStrategies #FirstTimeHomeBuyer #CanadaFinance #FinancialPlanning
Видео Why RRSP Contributions Could Be HURTING Your Financial Future канала Darcy Bell - IG Wealth Management
Most Canadians are told the same thing every year: "Max out your RRSP!" But in 2025, that advice might not actually be the best move for your financial future.
In this video, I break down 5 specific reasons why contributing to your RRSP could backfire this year—from low taxable income to better alternatives like the FHSA and TFSA. Whether you’re incorporated, already have a large RRSP, or saving for your first home, there might be smarter ways to grow your wealth.
🎯 Here’s what we cover:
Why RRSPs don’t make sense if your income is low
A better strategy for incorporated business owners
Hidden tax problems with a big RRSP
How pension plans affect your contribution room
Why the FHSA might be better than the RRSP for first-time homebuyers
RRSPs are a powerful tool—but only when used the right way. Watch until the end to make sure you’re not missing out on smarter, more tax-efficient alternatives.
#RRSP #CanadianTaxes #TFSA #FHSA #IncorporatedBusiness #RetirementPlanning #TaxStrategies #FirstTimeHomeBuyer #CanadaFinance #FinancialPlanning
Видео Why RRSP Contributions Could Be HURTING Your Financial Future канала Darcy Bell - IG Wealth Management
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24 марта 2025 г. 22:58:49
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