When it comes to doing the things you want to do, and buying the things you want to buy, now is always better than later. That’s also true for investing–the sooner you start, the better off you’re likely to be. The problem is that there’s only so much money to go around. So, do you spend your money on a new couch or do you save for your future by starting an investment plan? The answer is simple: do both with RBC RSP-Matic^®. It’s a way to invest regularly and still have a life.

Invest in the "Future"

If you start 10 years earlier, at just a $1 a day, you'll have gained an addtional $42,145 by the time you reach age 65.

• Start with as little as $30 a month, consistent contributions is the ideal way to get your plan going.
• Making regular contributions over time can help minimize the impact of market fluctuations to your porfolio.
• Use the RSP-Matic^®calculator to determine how much you can save and see how quickly it can grow.
• Use your savings for retirement-or for other things like education or your first home.

Live in the Now, Plan for Tomorrow

Let's explore the immediate benefit of making an RRSP contribution for an individual with $30,000 in taxable income taxed at a typical combined federal and provincial tax rate.

Savings That Benefit You Now
	$ 0 RRSP Contribution	$ 2,000 RRSP Contribution
Taxable Income	$ 30,000	$28,000
Combined Federal and Provinceial Tax	$4,550	$4,100
Deffered Tax	$0	$450

• Contributions are automatic and can come from your chequing or savings account at RBC or from another financial institution.
• Adjust your contribution amount and frequency (even put it on hold) at any time. All it takes is one phone call.
• Contributing to an RRSP can help lower your taxable income.

RRSP contributions are tax sheltered, which can leave more money in your pocket. Use our RRSP calculators to learn more.