A Registered Retirement Saving’s Plan is an investment that allows you to save money, gain a little interest, and lower your taxable income for the year. The interest gained from an RRSP is generally very small, so if you are expecting a big return you may want to think of other options. One of the main benefits to this plan is that sometimes they can be matched by your employer potentially doubling your savings. Another benefit is that if your income was slightly higher than previous years, investing in RRSP’s could help to lower your taxable income. A negative of RRSP’s is that they are taxable when you cash them in, meaning that you could push yourself into a higher tax bracket or they may not be taxed enough causing you to owe at tax time.