BMO'S Tip of the Day
To mark Financial Literacy Month, BMO Financial Group is releasing a series of financial tips throughout November. As part of BMO's commitment to 'Making Money Make Sense', the tips are designed to help individuals and families save and manage their day-to-day finances more effectively. BMO's Tip of the Day: Consider investing in a Registered Retirement Savings Plan (RRSP) and taking advantage of tax incentives when saving for retirement.An RRSP is a registered plan that allows you to save for retirement in a taxefficient manner.
Within an RRSP, portfolio investors can hold a variety of investments including guaranteed investment certificates (GICs), mutual funds, exchanged traded funds (ETFs), bonds and equities. The money you invest within an RRSP grows tax free.