Retirement Rationalizations: 6 Misconceptions About RRSPs


The statistics are clear: most Canadians are not preparing for retirement. According to a new poll by CIBC, more than half of Canadians surveyed said they did not feel adequately prepared for this later stage of their lives. When we published an article about the importance of investing in Registered Retirement Savings Plans (RRSPs), we were flooded with comments from readers on why they felt RRSPs didn’t work; some even suggested they were a government scam!

It seems that people have a lot of reasons for not investing in an RRSP, which might account for why only about one-third of Canadians make an RRSP contribution each year. The problem is, many common opinions about RRSPs are myths that just don’t stand up to reason. Check out the facts behind the flak in my new piece on 

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