Thursday, November 28, 2019

The hidden costs of early RRSP withdrawals

Here is the link.

3. Permanent loss of contribution room

When you withdraw funds from an RRSP, you permanently lose the contribution room you originally used to make your deposit. While you can continue making your maximum contribution to your RRSP in the future, you can’t re-contribute the amount you withdrew. This reduces the potential value of your RRSP at retirement.

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