RRSP with RBC

With RRSP with RBC, an RRSP is a registered investment accounttooltip that lets you save for your retirement by deferring taxes on your investment earnings. This means more of your money can stay invested and grow faster.

An RRSP also helps you lower your tax bill today, by allowing you to deduct RRSP contributions from your taxable income. By the time you retire you will likely be in a lower tax bracket, so withdrawals are taxed at a lower rate than today.

Here’s why nearly half of Canadians polled invest in an RRSP:

  • Use an RRSP to save for retirement while also saving for anything in a TFSA
  • Contributions reduce your annual income, lowering your tax bill
  • Taxes on your investment income are only paid when withdrawn
  • You can borrow money from your RRSP to go to school2 or buy your first home3 without penalty, provided it is repaid within the required time
  • You can make up for missed contribution room from previous years

Exclusive Benefits When You Invest With RBC

Free Digital Tools to Help You Plan & Save

See all your money in one place, get tips and save automatically with smart tools such as MyAdvisor and NOMI Find & Save.

Advice When You Need It

Speak with an advisor in-person, by phone or over video – whether you’re investing $50 or $5,000.

Open your RRSP and buy investments to hold in it.

An RRSP is a type of registered investment account, which means you can hold income-generating investments in it versus just cash (like a savings account).

The types of investments you can buy in your RRSP depend on where you open an account. You also want to consider your appetite for risk when choosing investments.

  • RBC Royal Bank: Ideal if you want investment advice and access to an advisor – in-person, by phone or over video.
  • RBC Direct Investingopens in new window7 : Ideal if you want to make your own investment decisions
    • Offers stocks, options, Exchange-Traded Funds (ETFs), mutual funds, bonds and GICs
  • RBC InvestEaseopens in new window 6: Ideal if you want to invest online and access Portfolio Advisors
    • Offers ETF portfolios designed for different investors (each portfolio holds a diverse mix of ETFs)

Ways to Invest Your Money at RBC

Tip: At RBC, you can open an RRSP with any amount you are comfortable with. Just keep your contribution (deduction) limits in mind.

Related Posts: