Now is the time to start with your retirement plan.

As a newcomer to Canada, you’ve been through a number of challenges – settling in your new home, finding a job or starting your business, enrolling your children in school, and more. Now that you’re settled, you need to start thinking about the future. Saving for future financial goals is a key component to building your financial security, and an RRSP or TFSA can play an important role in helping you live the lifestyle you want.

With the RBC RSP-Matic® and RBC TFSA-Matic™ automatic contribution plans, building your nest egg is both simple and effective:

Benefits of regular, automatic contributions:

Discipline

• Setting aside a small amount on a regular basis is often easier than coming up with a large, lump-sum contribution once a year. And having a disciplined strategy in place for contributing may help you to contribute the maximum to your RRSP and TFSA every year.

Convenience

• With the RSP-Matic and TFSA-Matic, your contributions are automatically deducted from your chequing or savings account at RBC® or another financial institution on a weekly, biweekly, semi-monthly, monthly or other timeframe—whatever works best for you.

Growth

• Your contributions can begin to grow on a tax-deferred or tax-free basis immediately. And by making regular contributions throughout the year, your earnings generate additional earnings. This "compounding" effect helps even small savings grow significantly over the long-term:

Regular contributions put time on your side

Investing $100 monthly instead of $1,200 at the end of every year will increase your return by almost $3,000 over 20 years earning 7% compounded annually.

Financial planning services and investment products such as mutual funds are offered through Royal Mutual Funds Inc. (RMFI) and guaranteed investment certificates and credit products are offered through Royal Bank of Canada. RMFI, RBC Asset Management Inc., Royal Bank of Canada, Royal Trust Corporation of Canada, The Royal Trust Company and Phillips, Hager & North Investment Management Ltd. are separate corporate entities which are affiliated. Royal Mutual Funds Inc. is licensed as a financial services firm in the province of Quebec.
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