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Anonymous

13 Nov 2020

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General Investing

I am 32 earning about 50k a year. Can contribute 2k to SRS. Is it worth it?

Too much hype about SRS account.

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Wrong Sean

13 Nov 2020

It is the time of the year where the banks have their SRS account promotions.

The 2K will offset your 2020 taxable income calculation as tax relief. Depending on your income tax bracket, it might help to lower the income tax paid.

And contributing to SRS now will lock in the retirement age that you can withdraw your SRS without penalty.

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How can I save 50k a year if I'm only earning 2k a month?

I am 30 years old and will start to contribute to SRS this year. Saw it is not wise to leave SRS money intact, hence want to invest my SRS. Any recommendations & which platform I should choose? Thanks

I pay about 100 in income taxes each year. Is it worth it for me to open an SRS account? Can I instead of paying taxes use the tax to pay my SRS account?

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