Costa provides the following practical advice to help you live for today and save for tomorrow:
- Show me the money - Look for hidden sources of contribution funds. If you have debt, take advantage of lower interest rates to reduce your overall borrowing costs and free up some of your monthly cash flow. For example, you can do this by consolidating higher interest credit card balances into a loan or home equity line with a lower interest rate.
About RBC's financial planning advice, resources and interactive tools
- Automate your savings habit - Get into the good savings habit of paying yourself first by setting up an automatic contribution plan to coincide with your payroll deposit. The funds will come off the top and are often not missed.
- Start thinking about your retirement income plan - If you are within a few years of retirement, switch your focus to establishing your retirement income plan. Translate your vision for the lifestyle you want in your retirement into financial requirements and work with an advisor to learn about your new sources of retirement income and how these will fund your new lifestyle.
The RBC Advice Centre offers free online advice, resources and tools regarding
retirement and estate planning
RSP-Matic® Savings Calculator
and updates on the federal government's RRSP
First Time Home Buyers' Plan
. In addition, RBC's
, a comprehensive online financial management tool, offers all personal RBC
clients the ability, at no cost, to create a set budget and track their spending habits and to access H&R Block tax-related apps in the new
, to help manage and plan their taxes.
About the 23 rd Annual RBC RRSP Poll
Annual RBC RRSP poll was conducted by Ipsos Reid
between October 24 and November 27, 2012
via a random sample of 1,225 Canadian adults in the general population (aged 18 and over). The results are based on samples where quota sampling and weighting are employed to balance demographics and ensure that the sample's composition reflects that of the actual population according to Census data. Quota samples with weighting from the Ipsos online panel provide results that are intended to approximate a probability sample. A weighted probability sample of 1,225 Canadian respondents, with 100 per cent response rate, would have an estimated margin of error of ±3 per cent, 19 times out of 20.