Spousal RRSP question

eortlund · Post by **eortlund** » Fri Mar 14, 2008 7:46 pm

I don't remember if I've asked this before. We are Americans in Canada--applying for permanent residency. My husband has an RRSP--you had said it would be agood idea for me to get an open work permit and SIN so any extra RRSP contributions could go in a spousal RRSP. I don't remember what the advantage of this is--I know that if we were to retire in Canada, then it would make our retirement income more equal?

But what if we retire in the US? I guess that wouldn't matter because the RRSP retirement income still comes to us from Canada?

nelsona · Post by **nelsona** » Fri Mar 14, 2008 9:27 pm

Spousal RRSP can be used to equalize income at retirement.

Now, with the TFSA, such equalizaion is a little more easy, without the strings of RRSP.

There are plenty of websites which talk the merits of RRSP, spousal or otherwise.

eortlund · Post by **eortlund** » Sat Mar 15, 2008 10:39 am

Thank you. So are you saying that the wisdom of starting a spousal RRSP does not depend on whether we retire in the US or Canada?

nelsona · Post by **nelsona** » Sat Mar 15, 2008 11:21 am

Once one of your have any RRSP, it doesn't matter if the other does or not has it in terms of US complexity. So spousal is jus tas useful regardless of where you retire.

eortlund · Post by **eortlund** » Sat Mar 15, 2008 11:49 am

Thank you! I really appreciate this message board and your quick responses. :)