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As of recent data, the average Canadian has approximately CAD 100,000 in their Registered Retirement Savings Plan (RRSP). However, this figure can vary significantly based on age, income, and individual savings behaviors. Many Canadians struggle to save adequately for retirement, with a substantial portion having less than the average amount. It's essential for individuals to assess their retirement planning needs regularly to ensure they are on track for a secure financial future.
What else can I help you with?
Can you convert a Canadian rrsp to a us IRA?
Not if you're trying to avoid paying Canadian taxes and you're not yet qualified in Canada to make withdrawals: It would be considered an early withdrawal from the RRSP and be subject to both taxes and penalties.
What is the penalty for Alberta early withdrawal from Canadian RRSP?
no penalty. with holding tax only
How much time does the average Canadian spend online?
I think that each Canadian spends about as much time on the computer as much as the average American.
In a divorce in Ontario Canada is his and her RRSP's part of divorce settlement or is it untouchable even if one is much higher than the other?
No it is not untouchable. In order to quantify the RRSP, one has to obtain the services of a profeesional. Also it depends on the RRSP and how the contributions are made. Rgds
How would one go about contributing to a RRSP?
The amount you can contribute depends on your RRSP deduction limit. You can find your deduction limit by looking at your 2011 Tax Return. Your RRSP deduction limit is the amount of RRSP contributions that you can deduct on your tax return for a given year.
How much money does the average Canadian spend on sports every year?
an average of $760
How much a 1961 Canadian worth?
in 1966, the average Canadian was worth about $5 U.S. Dollars. $7 if he was a mountee
How to make early withdrawal from Canadian RRSP?
To make an early withdrawal from a Canadian Registered Retirement Savings Plan (RRSP), you need to complete a withdrawal form through your financial institution. Be aware that the amount withdrawn is subject to withholding tax, which varies based on the withdrawal amount, and you must report it as income on your tax return for the year. It's important to consider the long-term impact on your retirement savings before proceeding with an early withdrawal.
What is the difference between a RRSP and a RRIF?
an rrsp withdrawals do NOT qualify as a pension income. the RRIF withdrawals do qualify as pension income.
How much waste does the average Canadian produce in a year?
2 billion
Where can I learn more about registered retirement savings plans?
A registered retirement savings plan is the Canadian equivalent of an IRA in the states. Here's a Canadian government page about these plans: http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/rrsp-reer/rrsps-eng.html
What is a self-directed RRSP?
check out http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/rrsp-reer/cntrbtng/slfdrctd-eng.html
