By Ashley Burr

Retirement Plans For People Of Any Age

Feb 27, 2018 | 8:52 AM

PRINCE GEORGE – The deadline for contributing to your RRSP is March 1st. An RRSP can reduce the amount of tax you pay in order to save for retirement, but there is more to it than just preparing for our senior years.

“It’s an account that you can invest in a wide-ranging of assets: so it can be super safe, just cash, but then it can range from mutual funds, stocks to bonds, heck we can even now hold sometimes our mortgages inside our own RSP,” says Financial Planner John Kason.

But going back to basics, the first step in contributing to your RRSP is figuring out where that money is coming from. 

Money coach Amy Hudson says people should be looking at their household budgets. She says if you don’t know how much money you are spending, you don’t know how much you could be saving. 

As the next generation enters the workforce, planning ahead to retirement might not be at the forefront of their minds.

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Financial planner John Kason says although it can be hard to think about retirement when you’re in your 20s, it’s really important, even if you only save a small amount each month.

He says something like the ‘10% rule’ is a good way to get people starting to think about saving their money. 

Amy Hudson says this time of year is also a good excuse for parents to start talking to their kids about money. Playing games like monopoly, or guessing the price after going grocery shopping, are ways Hudson suggests to start the conversation.