This is the last week to contribute to your RRSPs for the year 2022. But experts are observing a decline in the contribution of Quebecers to their savings due to the current economic context.
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Contributions for pension plans are much lower in 2023, compared to the years preceding the pandemic.
March 1 is the deadline to contribute to your RRSPs for the 2022 period.
“The best recommendation is to take a step back and see how much you made in 2022. Then, at that point, you can establish your marginal tax bracket where you are. Then you can do the math to see if it’s worth making a little extra effort in order to have a tax refund or a tax deduction,” advises Antoine Chaume, financial planner.
Households have choices to make between savings and consumption expenditures. Here are some reactions:
“We are more careful than before, but it is not easy. With organization, we get there.
“Gentrification means that we keep our little apartment burnt out. We had a little boy in the meantime, so we would need more space. Savings are not our priority.
“We consider ourselves lucky. We are two career people, so it’s going well, but we have friends who have more difficulty.
