Take the Free Money—Group RRSP Matching

Don’t be a weirdo—take the Group RRSP match if your employer offers it.

Clip from Episode #1 of the podcast with Preet Banerjee.

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You know, it’s interesting. I spoke for a Boston robotics firm. They brought me in years ago for their 401k, a group RSP in essence in Canada. And for every dollar the employee put in, they matched with $4.95. Don’t ask me where they got that, but I think it was from a profit sharing formula. So you got essentially five for everyone you put in and they still had 25 percent of people not doing it. And so I went up in front of the audience and I, and they, and I said to them, your boss has said to me, you know, what are you going to tell them to get them motivated? I’m going to say, if you don’t do that, you should be fired. You’re obviously not an intelligent person. There’s very low chances you’re adding value to this company.

I would use that as the litmus test for whether you should be here in the first place. Like, can you imagine?