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Contribute to your RRSP’s Canada!

Tonight is the deadline to contribute to your RRSP‘s if you’re in Canada. Actually, you can contribute to your RRSP’s (registered retirement savings plan) anytime but if you want to reduce your taxable income for 2008 then you need to contribute by midnight tonight.

Some surveys have shown Canadians are wary of investing amidst global economic turmoil. In fact, if you can afford it, now is one of the best times to buy long term equities. You may wish to purchase safer vehicles like bonds in the interim, then move them to equities when the volatility subsides in a year or so.

Regardless, if you have the expendable income, then prices have never been better then they are now. As the saying goes: “buy low, sell high”.

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