I’m a big fan of RRSP’s as an investment vehicle for Canadians. An RRSP is a fantastic way to decrease your tax bill and grow your investments tax-free, at least until you are ready to withdraw the money. I’m a firm believer that anyone who is paying a marginal tax rate of more than 26% (income greater than $44000 here in Saskatchewan) and has some money that they can safely put somewhere they won’t be able to touch it for awhile should be contributing to an RRSP.
Now after saying all that though, I’m still not going to be claiming an RRSP contribution for 2014. Here’s why..