When do YOU want to retire? With a boomerang CREDIT UNION RRSP, we can help you get there sooner. Our skilled advisors will explore the benefits of a variety of options – like a regular automatic payroll deduction, an annual contribution or a loan to help you top up and save on taxes.
Regular contributions can have a big impact through the magic of compound interest. Your money is tax-sheltered for a longer period of time and your contributions earn interest from day one. Just look at how contributing a few dollars each month adds up…
Example: $100 monthly based on an annual rate of 4%.
| Time | Capital Invested | RRSP Value |
|---|---|---|
| After 1 years | 1,200 | 1,226 |
| After 5 years | 6,000 | 6,640 |
| After 10 years | 12,000 | 14,718 |
| After 15 years | 18,000 | 24,546 |
| After 20 years | 24,000 | 36,503 |
| After 25 years | 30,000 | 51,051 |
Let us help you put your money to work for you. Call boomerang CREDIT UNION, where your money comes back to YOU!
To determine whether a RRSP or a TFSA suits you better, click here.
