Young Money With Tracey Bissett

It can be challenging to prepare and find effective ways of planning for your future. In particular, people find it hard to plan for buying their first home or re-starting their education at a later time. Young adults may understand that starting early to plan their financial future is critical, but it is also vital to understand the financial planning options and programs that are available to Canadians.  Today, I’m sharing a short, targeted program on RRSP withdrawal programs. I reveal what a Registered Retirement Saving Plan is, how they work, and explain how an RRSP is established with the Canada Revenue Agency, by you, your spouse, or your common-law partner.  I share how you can withdraw funds from a RRSP to build or buy a qualified home through a program known as a Home Buyers’ Plan (HBP). I also share how the Lifelong Learning Plan (LLP) can be used to fund your education or retraining.   “If home ownership is a goal, then you should get your RRSP started as early as possible.” - Tracey Bissett Thi