Trying to determine how much to contribute to RRSP
- I did not contribute to my RRSP over the last several years and have some room saved up. My 2009 limit is approximately $35,000
- My net income for 2009 was $52,000
- I have quite a bit of cash saved and have the flexibility to contribute all $35,000 if I wanted to do that
- I am a resident of Nova Scotia
Is my thinking sound? Or are there clear benefits that I'm missing to using all of my deduction limit if I'm in a position to do so?