A Custom Savings Plan That Pays!
Didn't manage to put any money away this year? Weren't able to keep up with your retirement plan? Here's an excellent way to make it happen. Rather than setting money aside once a year, put small amounts aside on a regular basis. Most financial institutions offer automatic installments so you can have a predetermined amount deducted from your bank account at the frequency you choose and deposited directly into a savings account.
Installment Savings: Practical and Effective
- Contributions are automatically transferred from your bank account
- You can schedule your installments to coincide with your payday
- You can change your savings plan at any time
- Your savings accumulate quickly and grow all year long
- You eliminate that last-minute scramble to come up with your RRSP contribution
- You ease your way into the financial market through dollar cost averaging.
Small monthly installments can pay off big! Look at what they could be worth in 30 years*
Regular installments make it easier to max out your RRSP contributions.
Installment savings plans are very flexible, so you can adjust your savings according to changes in your financial situation. For example, you can increase your installment amount and frequency when you get a raise or scale back if you have to take a pay cut.
These calculations are based on contributions made at the beginning of each period.
Amounts are for illustration purposes only.