Are you working for your RRSP. or is it working for you? Maybe now is the time to think about giving it a boost by cash-injecting your RRSP engine. 'Now' being the key word, as time is one of the most important factors in any tax-sheltered investment.

Consider that now is an excellent time to check your carry-forward balance and catch up on your retirement savings. Even if you don't have available funds, we have numerous financial institutions literally ready to hand it over, some without even bothering with a credit check.

The cost of waiting too long to catch up can be staggering, because the earnings you forfeit are compounded by the tax free accumulation opportunity you aren't realizing. Consider the impact of waiting- just five years- on a contribution of only five thousand dollars assuming 8%:

The cost of waiting just 5 years was almost $11,000. Procrastinating also costs because you end up paying more in taxes each year you don't exercise the top-up. This is especially important in years when taxes are reducing, as the deduction loses its value as the marg-inal tax rate falls; exactly the situation Canadians have seen in recent years and are likely to see going forward.

Lastly, this is an exciting time to be in the market; Canada is one of the leading resource markets in the world, at a time when the U.S. wants to reduce dependency on the mid-east- there's also growth in emerging markets such as India and China and- if you don't like paying bank fees- you can counter them by buying into the financial services sector and share in their profits!

The answer? Don't wait. Ask your financial advisor to help you determine how much room you have in your retirement savings account and top it up. Your advisor can also help if you don't have enough funds available, with exceptional borrowing rates. Amounts of up to $18,000. (normal maximum annual contribution) are guaranteed issue loans. Isn't it time to get started?