Merry Christmas everyone! I have made a top up to my SRS account again for this year. At my current 11.5% tax bracket, this translate to about a $1700 tax savings for me. You can read more about other tax savings that I had here. Of course, SRS is not a free lunch. It has its down side. To enjoy the tax savings, the SRS money is locked up until the official retirement age at the point you first opened your SRS account. For me, that age is 62, which means my SRS money is locked up for about 18 years before I can withdraw it penalty free. On top of that, the interest rate in the SRS account is a measly 0.05%. Despite these downside, I still try to set aside enough each year to contribute as much as I can, ideally the maximum of $15300, every December. This is because, in the worst case scenario where I really need the money before I turn 62...