RRSP Gross-up Strategy - Easily Contribute 40-70% More to Your RRSP
Episode description
Wouldn’t it be great if you could save a lot more for your future without affecting your day-to-day cash flow?
One of the main things you learn from your retirement plan is that you need a lot more to retire comfortably than you may have thought.
But with all the day-to-day expenses, it can be difficult to find the money to contribute as much as you would like to your RRSP.
The RRSP gross-up strategy is a simple strategy that can be a game-changer for you. It can enable you to easily contribute 40-70% more to your RRSP – every year.
The strategy works if you already expect a tax refund. If you contribute monthly to your RRSP or have various tax deductions or credits, you probably expect a tax refund.
The RRSP Gross-up Strategy can be an even bigger life-changer if you have lots of RRSP room. Canadians have nearly $1 trillion available contribution room.
It is smart to gross-up every RRSP contribution you make.
In my latest podcast episode you’ll learn:
- Why contribute to your RRSP?
- What is the optimal amount for you to contribute?
- How contributing 40-70% more can be life changing.
- What is the RRSP Gross-up Strategy?
- Real life examples.
- RRSP Gross-up formula.
- How to estimate your tax refund accurately.
- What is the RRSP Catch-up Strategy?
- How to combine the RRSP Gross-up + RRSP Catch-up Strategies.