It’s a common complaint – you’ve contributed to an RRSP for years, but the promise of a big pile of cash for retirement just doesn’t seem realistic, especially when that RRSP isn’t producing much in the way of a return. Maybe that’s why more than 60 percent of Canadians opted not to contribute to their retirement savings plans this year, according to the BMO Annual Post-RRSP Deadline Study.
It’s hard to fault investors for their ambivalence. The market’s ups and downs over the past few years have tested our nerve, while low interest rates have pushed our patience to the breaking point.
And yet, if you’ve been ganging up on your RRSP, it’s time to back off. Why? Because no matter how poor your returns, it’s not your RRSP’s fault – and it isn’t time to give up on investing in it for your future. Find out why in my new article on GoldenGirlFinance.ca: http://bit.ly/zkgGek