There'sno minimum agefor opening anRRSP.However, you must receive employment or business income to earn contribution room, and must be over 18 years old to contribute more than $2,000 a year.
You can contribute to yourRRSPuntil December 31 of the year in which you reachage 71. However, you can contribute to your spouse's RRSP if they have yet to reach the age limit, or continue to save by contributing to aTFSA.
Related questions
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Are RESP withdrawals taxed? Learn about withdrawing from an RESP. -
Are TFSA contributions tax deductible? Learn the tax benefits of a TFSA. -
Are TFSA withdrawals taxed? Learn if TFSA withdrawals are taxable. -
By what age must a child withdraw funds from an RESP? Learn the maximum age to withdraw funds from an RESP. -
Can I carry forward my unused FHSA contribution room? Once you open an FHSA, you can carry forward your unused contribution room. Check out the details.
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