Just heard on the news that the RRSP contributions reported by the banks (so far this year),
are the lowest they ever have been in 11 years.
Although this is a leap year and the contributors have an extra day , so far about only 39%....
(got this statistic from the CBC news channel..so don't quote me on this please!) ....have managed to make any kind of contribution. and time is running out.
So you latte sipping financial gurus out there...why is that?
a) Is it the investment climate/economy shaky?
b) Is it the fact that we now have TFSA savings account
to put our money into and withdraw without penalties or tax hits?
c) Is it the high cost of real estate and living these days?
d) Lack of new job opportunities? Too much consumer debt?
e) Return on investment?