Top 5 Costly RRSP Mistakes That Canadians Make (secrets from an ex-banker)

RRSP season is upon us (the last day is March 1) and to help you avoid the top RRSP mistakes that Canadians make, I've brought back the financial planner that my family and I use, John Kalos.

We had a live webinar where we went over these top mistakes, and it gave everyone a chance to get their questions answered live. 

What we cover in this episode:

•How to use RRSP season to save you thousands in taxes (it ends March 1st!)

•How to make RRSPs work for you to boost your net worth, instead of just making it profitable for the banks (at your expense)

•The top tricks that the banks use to get you to invest with them (revealed by an ex-banker).

•What you can do right now to maximize your tax return, by properly using your RRSP.

Download the webinar recording:

You can download and stream the webinar recording by going to the show notes at: Buildwealthcanada.ca/53

Ask John Your Questions:

Even though you missed the chance to ask John your questions live during the webinar, you can still chat with him 1-one-1 for free for 30 minutes and get your questions answered by going to buildwealthcanada.ca/john.

Get Your Free 1-Year Subscription to Canadian MoneySaver Magazine

Lastly, don’t forget to claim your free 1-year digital subscription to Canadian MoneySaver Magazine (Canada’s largest personal finance and investing magazine).

The magazine features Canada’s top experts on personal finance and investing, and is a great place to learn best practices, and stay up to date on changes that will impact your investments and financial situation for years to come, specifically here in Canada.

To get that, all you have to do is open up a free savings account with my favourite bank (and the bank that I personally use, EQ bank).

The reason that I personally use EQ bank, is that they have one of the highest interest savings rates in Canada. In fact, over all the years that I’ve been with them, I’ve seen them consistently be almost double the interest rate compared to other online banks, and well over double the interest rate compared to the major brick and mortar banks that we have here in Canada.  

Plus it’s free to sign up and keep an account with them, so you’re not paying a monthly fee as you do with many of the other banks out there. As a bonus you also get 5 free Interac e-transfers every month!

Because of those reasons, I’ve been with them ever since they launched in Canada years ago, and it’s where I keep my entire emergency fund and spending money.

To get the free account and a 1 year free subscription to Canadian MoneySaver magazine, just go to buildwealthcanada.ca/eq, open the free account, and once you’re done, forward any email that you get from EQ to bonus@buildwealthcanada.ca and I’ll send you a coupon code that gets you a free one year subscription to the magazine.

Enjoy, and thanks for supporting the show!

Kornel