<h1 id="rrsp">RRSP<a aria-hidden="true" class="anchor-heading icon-link" href="#rrsp"></a></h1>
<p>When you draw down on your RRSP (ie. withdraw money from it), you lose the contribution room of the amount removed.</p>
<p>The max deduction limit is 18% of gross income previous year, up to $27,830</p>
<p>You don’t have to deduct an RRSP contribution on your tax return in the same year you make the contribution. You can wait and deduct it in a future year. You may choose to do this if you think your income will be higher in the future, moving you up to a higher tax bracket. This is called having unused RRSP contributions.</p>
<p>Employer's contributions to the RRSP are able to be included as part of the RRSP contributions deduction.</p>
<p>The deadline to contribute to 2022 RRSP is March 1, 2023.</p>
<p>Contribution room can be obtained from CRA Notice of Assessment (check mail within CRA portal)</p>
<p>Over your lifetime, the most you can deduct from your income as an FHSA deduction is $40,000.</p>
<h2 id="home-buyers-plan-hbp">Home Buyer's Plan (HBP)<a aria-hidden="true" class="anchor-heading icon-link" href="#home-buyers-plan-hbp"></a></h2>
<p>This program allows you to withdraw from RRSP to buy a home.</p>
<ul>
<li>As of 2019, the budget withdrawal limit is $35,000, of which no tax will be withheld.</li>
</ul>
<p>Relevant caveats:</p>
<ul>
<li>Must be first-time home buyer</li>
<li>Must intend to occupy the house within 1 year.</li>
</ul>
<h2 id="lifelong-learning-plan-llp">Lifelong Learning Plan (LLP)<a aria-hidden="true" class="anchor-heading icon-link" href="#lifelong-learning-plan-llp"></a></h2>
<p>This program allows you to withdraw $10,000/year from RRSP to finance full-time training/education for you or your spouse.</p>

RRSP

thoughts-on


Welcome to my Second Brain! Here you'll find thoughts, lessons, facts and any other interesting musings that I've come across or thought up over the years. A lot of what I have gathered is originally from the minds of others, while some of it originates from myself. Some notes may contain misinformation, though I try to be rigorous with my additions.

What I have here does not necessarily reflect my thoughts and views. I collect information not based upon whether I agree with it or not, but rather when I determine it to contain some value that can be served in the future.  

You can think of this collection of inter-linked notes as my personal wiki.

This Dendron notebook is the sister vault to the tech-focused [Digital Garden](https://tech.kyletycholiz.com)

## Tags
Throughout the Second Brain, I have made use of tags, which give semantic meaning to the pieces of information.

- `ex.` - Denotes an *example* of the preceding piece of information
- `spec:` - Specifies that the preceding information has some degree of *speculation* to it, and may not be 100% factual. Ideally this gets clarified over time as my understanding develops. I try to go back after I have better understood the topic and clear out the notes of `spec:` tags
- `anal:` - Denotes an *analogy* of the preceding information. When I can, I attempt to link concepts to others that I have previously learned.
- `mn:` - Denotes a *mnemonic* to aid in memorization
- `expl:` - Denotes an *explanation*

## Resources
### UE (Unexamined) Resources
Often, I come across sources of information that I believe to be high-quality. They may be recommendations or found in some other way. No matter their origin, I may be in a position where I don't have the time to fully examine them (and properly extract notes), or I may not require the information at that moment in time. In cases like these, I will add reference to a section of the note called **UE Resources**. The idea is that in the future when I am ready to examine them, I have a list of resources that I can start with. This is an alternative approach to compiling browser bookmarks, which I've found can quickly become untenable.

### E (Examined) Resources
Once a resource has been thoroughly examined and has been mined for notes, it will be moved from *UE Resources* to *E Resources*. This is to indicate that (in my own estimation), there is nothing more to be gained from the resource that is not already in the note.

### Resources
This heading is for inexhaustible resources. 
- A prime example would be a quality website that continually posts articles- another example would be a tool, such as software that measures frequencies in a room to help acoustically treat it.
