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Can we consider a traditional IRA equivalent to a Canadian RRSP?

Hi Mohammad, I’m confused about IRA and Canadian RRSP. Are they considered similar or is there any difference between them?

I just want to make sure I’m understanding this… an IRA is pretty much the same as an RRSP, correct?

Yes. A Canadian Registered Retirement Savings Plan (RRSP) is equivalent to a Traditional Individual Retirement Account (IRA). They offer the same financial path and tax advantages in savings for retirement.

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