[Verse 1] Eighteen percent or pension adjusted maximum That's your contribution ceiling every year Carry forward unused room from years behind you Seven years of space accumulates here Earned income drives the calculation engine Employment, business, rental profits count But investment gains and pension income Won't boost your registered account [Chorus] RRSP rhythm, build your nest Eighteen percent but not more than the test Deduct today, defer the tax Compound the gains, compound the facts RRSP rhythm, retire blessed Contribution room, put it to the test [Verse 2] December thirty-first, the deadline passes Sixty days more to make your play March first arrives, the window closes Miss the chance, it fades away Over-contribute, one percent monthly Penalty bites your excess cash Withdraw the surplus, claim the refund Before the CRA comes to clash [Chorus] RRSP rhythm, build your nest Eighteen percent but not more than the test Deduct today, defer the tax Compound the gains, compound the facts RRSP rhythm, retire blessed Contribution room, put it to the test [Verse 3] Spousal plans split income streams Lower bracket, future schemes Home Buyers' Plan, twenty-five grand First-time purchase, repay as planned Lifelong Learning, education goals Twenty thousand for student roles Fifteen years to pay it back Stay on schedule, stay on track [Bridge] Seventy-one, conversion time RRIF or annuity, make it rhyme Minimum withdrawals, tax each year No more contributions, end is here [Chorus] RRSP rhythm, build your nest Eighteen percent but not more than the test Deduct today, defer the tax Compound the gains, compound the facts RRSP rhythm, retire blessed Contribution room, served you best [Outro] Attribution rules when spouses play Three year rule keeps tax at bay Withholding tax on early draws Plan your retirement, know the laws
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