Personal Finance

Should I invest in RRSP the year I get some extra income and withdraw it in coming years ?

  • Last Updated:
  • Jan 16th, 2017 12:45 pm
Jr. Member
May 7, 2014
125 posts
37 upvotes
Winnipeg , MB

Should I invest in RRSP the year I get some extra income and withdraw it in coming years ?

Quick Question : If I know that for sure this year I am making some extra money than I would be able to make in coming couple of years . Does is make sense for me to max out my RRSP when I am at a higher bracket and then take that money out in coming years when I would be in lower bracket ?
1 reply
Deal Addict
Sep 5, 2009
3301 posts
1486 upvotes
There are a variety of opinions about this because you permanently lose the rrsp space.

That being said, I did this before an extended mat leave and it worked out well. I invested in rrsps during a year that I made a lot of money and cashed them out in a year that I made almost nothing.
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