From: atbowler@thinkage.ca   
      
   On 2/28/2014 6:49 PM, Canuck57 wrote:   
   > Anyone recommending young people do RRSP is quite frankly insane, corrupt or   
    > both.   
   >   
   > Less than 1% of the people should do RRSP before they are 50 years of age.   
    > Without a end of life tax plan, RRSP is now a tax trap.   
   >   
   > If inflation was zero, tax rates constant for all, then RRSP is the same   
    > benefit of TFSA.  But add in reality of inflation as a tax, and that taxes   
   > never go down....TFSA is a big winner and RRSP is a loser.   
      
   No.  For someone under 18 with earned income, an RRSP is NOT loser.   
   First of all, he is NOT elegible for a TFSA, so it is meaningless to   
   compare the two.   
   Secondly, he does NOT need to actually deduct the contribution, just   
   get the funds into the shelter where it will earn something   
   tax deferred.   
      
   The BIG plus is to get the idea into the kids head that   
   regular saving for retirement is important.  The odds are good   
   he is going to need it.   
      
   Remember that since the idea of defined benefit plans is under   
   severe attack, people need to saved much more into more expensive   
   plans like RRSPs, defined contribution plans etc.  The kids need to   
   start early with everything available.   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)