Another benefit of having a registered retirement savings plan is the ability to also register for a lifelong learning plan (LLP). Withdrawing up to $10,000 per calendar year from your RRSP allows you to finance your own training or education for yourself or your spouse or common-law partner. This LLP cannot contribute to financing the training or education of your child, or that of your spouse or common-law partner’s child. To qualify for an LLP, you must also be a Canadian citizen, and enroll in a qualifying educational program or training program at a legitimate institution. To see if you qualify for an LLP or if you need help with a financial plan for an LLP, our experts at Dely & Associates can assist you in all steps of the process.