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It's hard to not get sucked into the hype around RRSPs. I had a meeting with my mortgage manager over the weekend and she chatised me for not contributing to my RRSP. Then I told her that I have a defined benefit pension and she later backpedalled and said that RRSPs aren't for everyone. Her ex-husband is a public servant and she flat out stated that his pension is worth a million bucks (of course, she's entitled to half of that.)
It pains me to say this, but I think I'm going to pay taxes this year instead of contributing to my RRSP. At my income level, I would have to pay nearly 5 grand to off-set any taxes that I owe. I want to preserve my emergency fund and if I were to make an RRSP contribution this year, I would have to put a serious dent into that fund. Some food for thought for others who may be in my situation (or who spent beyond their means this year.)
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