Posted on 21/01/03
Cash-poor? There are other ways
Don't let a minor detail like the fact you don't have cash prevent you from contributing to an RRSP. There are ways to get around that.If your poor cash flow is just a temporary problem, you can always borrow money by taking out an RRSP loan. Most banks, credit unions and other financial institutions offer preferred rates and flexible terms to people wanting to top up their RRSPs. Loans are widely available at the prime rate of 4.5 per cent, and some institutions will knock a quarter of a percentage point or more off that if you negotiate.
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