Canadians are continuing to dip into their RRSPs to pay for living expenses and debt.
That’s from an annual RRSP study conducted by the Bank of Montreal.
In 2016, Canadians withdrew an average of $17,000, however in New Brunswick that average jumped to $25,000.
While 30-percent of Canadians used RRSP withdrawals to buy a home, one in five used it to pay living expenses, and 18-percent used it to pay off debt.
Despite three quarters of Canadians being concerned about taking money from their RRSP, 19-percent said they had no plans to pay the money back.
Have you dipped into your RRSP to pay for living expenses and debt? #RRSP #debt #NewBrunswick #SaintJohn #Poll
— CHSJ News (@chsjnews) February 11, 2017
