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What is the difference between an IRA and an RRSP?
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An IRA (Individual Retirement Account) is a retirement savings plan that allows you to save for retirement. It is similar to a 401(k) in the United States, but it is not as common. An RRSP (Registered Retirement Savings Plan) is a type of pension plan offered by the Canadian government. It is designed to help Canadians save for retirement.