10 Ways to Grow your RRSP

Canadians are increasingly relying on their own resources to fund their retirements. Here are ten strategies to make your RRSP grow and increase your retirement capital.

1. Contribute the Maximum*

$ 32,490 | 2025 RRSP

$ 31,560 | 2024 RRSP

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2. Start Contributing Early

Take full advantage of compound growth, helping your money grow over time.

3. Set a Target

Determine your desired retirement lifestyle. Defining this objective will allow you to set a savings target for your RRSP and will let you gauge your progress.

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4. Make an Annual Lump Sum at the Start of the Year

The earlier you invest, the more time you have to benefit from market growth.

5. Contribute Monthly

Monthly investing allows you to take advantage of dollar cost averaging and ensures you are making regular investments.

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6. Contribute to a spousal RRSP

Spousal RRSPs are a great way to split income with your spouse in retirement. This can result in a lower tax bill.

7. Reinvest your tax refund

If you take your tax refund from last year, and add it to your annual RRSP contribution for the current year - this increased investment can increase your tax refund in the current year.

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8. Make use of asset allocation

Maximize the return on your investments while diversifying your risk through proper asset allocation.

9. Borrow to invest**

Borrowing to maximize your RRSP contribution usually leaves you further ahead than making a smaller contribution.

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10. Retire later

Retiring later gives your RRSP more time to grow and means that you will need to save less for your retirement.

Plan for tomorrow. Start with today.

Speak to us today about establishing your retirement goals and designing a custom strategy to meet your specific objectives.

This is a general guide only and not intended to replace professional financial and tax advice in any form. Please consult your financial advisor on how it relates to your situation.



*The RRSP contribution limit varies by individual. Speak with your financial advisor about maximizing your contribution.

**Some terms and conditions may apply. RRSP loans are subject to credit approval. Borrowing to invest is not for everyone and will depend on the individual’s risk tolerance and time horizon; please speak to your financial advisor to find out if borrowing to invest is right for you.


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