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Is a traditional IRA equivalent to Canadian RRSP?

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. 

Comparison and how to convert a Canadian RRSP to a Traditional IRA



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