18 to 24 Years of Age
I feel I am too young to contribute to an RRSP. I have other priorities at the moment (education, student loan or car loan payments, etc.).

If you make early and regular contributions to an RRSP, you can enjoy life and still prepare for your retirement, no matter how far away it may seem.

STILL NEED CONVINCING?

• If you invest in an RRSP, you could get a tax refund that can be used to finance a pet project or to repay debt (education, student loan, car loan, etc.). To be eligible for a tax refund, you have to file an income tax return reporting employment and business income from the previous year.
• Compound interest is a powerful thing, so the earlier you begin contributing to an RRSP, the faster your investments will grow. With our excellent National Bank Funds Periodic Investment Plan and Systematic Savings RRSP solutions, you can start building an RRSP for as little as $10 or $25 in weekly, bi-weekly or monthly contributions.
• Even if you have no plans to buy a home in the short or medium term, the money you invest in your RRSP could one day be used for a sizable downpayment, through the Home Buyers' Plan (HBP).

Also, with the Lifelong Learning Plan, you can use your RRSP to finance a return to school.

RRSP BASICS

• What is an RRSP?
• How much can I contribute to an RRSP?
• Which investments are RRSP-eligible?

RELEVANT FINANCIAL ARTICLES

• Using your RRSP to make a downpayment on your first home: a wise move
• The art of budgeting
• Managing your investment portfolio skilfully
• Should you pay off your old loans or borrow for present needs?
• Knowing the ground rules for RRSPs
• Life insurance basics
• The National Bank Mutual Funds Periodic Investment Plan: a profitable solution.

DETERMINE YOUR INVESTOR PROFILE

Complete our Personalized Investment Plan and select the investor profile and investment solution that matches your needs, your financial objectives and risk tolerance. But first, please read our article What kind of investor are you? How to maximize returns and minimize risk. (PDF)

SECTION DESIGNED FOR 18-to-24 YEAR-OLDS

For more simple and effective ideas, visit our www.nbc.ca/18_24 section.