RRSP

Registered Retirement Savings Plan is a program for Canadians to save some money on their income taxes and provide for an income upon retirement.

These accounts can be self-directed or directed by the bank, insurance company or investment firm that is holding the funds. There can be a set rate interest or it can vary with the economic times.

Be aware that the Canadian Government has allowed a specific percentage of the RRSP to be used as a down payment on a home.

You should talk to your accountant, agent or broker about what is available for you.