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Can I use an old RRSP account to buy stocks?



Our response:

Yes, Registered Retirement Savings Plans (RRSPs) can hold stocks. Equities (both Canadian and foreign stocks) are typically considered qualified investments that can be held in an RRSP. An RRSP is a type of account, registered with the federal government, which can be used to save for retirement. RRSPs have special tax advantages.

Speak to your registered financial advisor to find out if your old RRSP account is active and whether you have contribution room in your RRSP.  Your advisor can also help you figure out which stocks work best for your investment plan.

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