Deadlines are looming again (FYI if you didn’t know it is February 29, 2012) for your contribution to be counted towards the 2011 tax year.
I’m curious to know (you know, because I’m nosy like that), for those that contribute to an RRSP, when do you contribute?
Do you contribute in a lump sum in early 2011?
Do you contribute throughout the year in 2011?
Or do you wait until the first two months of 2012 to put in that big chunk of change in?
What I do (and there’s no rhyme or reason or method to my madness) is I contribute a set amount per month and then if I have room left over, I’ll contribute a lump sum to max out my RRSP afterwards. After I finish paying back my Home Buyer’s Plan, I’ll likely stop contributing to my RRSP’s (unless I have oodles and oodles of money after contributing to my TFSA already) since I plan to have a defined benefit pension plan. However, who knows, I might be desperate to decrease my taxes in which case I’ll probably contribute to an RRSP as well.
Speaking of RRSP’s, I had the lovely opportunity to talk to Bryan Borzykowski from Moneysense.ca (I idolize Money Sense so it was pretty awesome to be mentioned in it) and he interviewed me about my strategy for my RRSP’s.
Here are some RRSP posts that might pique your interest in case you’re not sick of seeing RRSP stuff just yet.
- RRSP versus TFSA: Head to Head Comparison
- RRSP’s Holdings Part 1
- RRSP Holdings Part 2: What to Keep in and Out of your RRSP (I loved writing this post but no one commented on it, sadly. I wrote it when my blog was a baby in blog years)
Have a fantabulous weekend!
Pf Blog Love
- This blog has been featured in the Jenny Pincher’s Blog Carnival (woohoo!)
- My Own Advisor talked about the retirement goals of Gen X and Gen Y (and no one is thinking about being 67)
- Free Money Wisdom got engaged and WON their honeymoon (that is so awesome!!)
- Million Dollar Journey my blogging idol posts his net worth updates- he’s killing it and I know he’ll make his goal
- Dividend Ninja also weighs in on the TFSA or RRSP debate
- The Financial Blogger asks you where are you… where do you stand?
- My University Money asks whether you feel more satisfied earning or saving (for me it’s both lol)
- Boomer and Echo talks about the hot Boomer topic, of the OAS age increase from 65 to 67
- It’s not too late! Crystal from Budgeting in the Fun Stuff shares her New Years Resolutions
- Financial Uproar ponders the question.. why are people scared to be rich?
- Financial Samurai asks those who are interested in quitting their jobs to blog full time to read this first