View Poll Results: How much do you know about RRSPs?
I have an RRSP account and contribute to it.
15
65.22%
I know what an RRSP is but don't contribute to one.
4
17.39%
I have a vague idea what an RRSP is.
2
8.70%
What's an RRSP?
2
8.70%
Voters: 23. You may not vote on this poll
RRSPs
Oct 1st 2013 | 7:02 am
#1
Thread Starter
Grumpy Know-it-all
Joined: Jul 2010
Posts: 8,928
From: Calgary, Alberta
RRSPs
Can't remember having a thread on this. Not recently anyway.
Oct 1st 2013 | 7:13 am
#2
Assimilated Pauper
Joined: Mar 2005
Posts: 40,070
From: Ontario
Re: RRSPs
I have an RRSP with the TD. It's had $4.23 in it for the past decade. Every now and then the TD call trying to sell me their investment services and I point to it, if they were as good as they claim then, in ten years, they should have been able to get it up to five bucks or even more but it's still only $4.23.
Oct 1st 2013 | 9:51 am
#3
Born again atheist
Joined: Jul 2005
Posts: 30,259
From: Europe (to be specified).
Oct 1st 2013 | 10:43 am
#4
BE Forum Addict
Joined: Apr 2005
Posts: 4,109
From: Saskatoon, Saskatchewan
Re: RRSPs
When you consider how much many pension funds managed to lose in the last few years, while charging people for the privieldge of losing their money, actually ending up with the same amount in there isn't a bad deal.
Oct 1st 2013 | 10:46 am
#5
"In cruce vincam"
Joined: May 2010
Posts: 3,233
From: Mill Bay, Vancouver Island
Re: RRSPs
Better "vehicles" for investments than this.
Oct 1st 2013 | 1:52 pm
#6
BE Forum Addict
Joined: Aug 2006
Posts: 3,124
Re: RRSPs
rrsp?
don't leave home without one
don't leave home without one
Oct 1st 2013 | 3:16 pm
#7
Joined: Feb 2006
Posts: 10,630
From: Red Deer, Alberta
Re: RRSPs
How about, I have an rrsp but dont contribute to it?
Oct 1st 2013 | 11:21 pm
#8
Slob
Joined: Sep 2009
Posts: 6,345
From: Ottineau
Re: RRSPs
I contribute to mine in chunks, when I have the cash to spare.
The portfolio is pretty diversified. Some is in GICs, which are safe but pay crap interest. Most is in three mutual funds, which are not so safe but are returning about 10%py at the moment.
The portfolio is pretty diversified. Some is in GICs, which are safe but pay crap interest. Most is in three mutual funds, which are not so safe but are returning about 10%py at the moment.
Oct 1st 2013 | 11:39 pm
#9
Assimilated Pauper
Joined: Mar 2005
Posts: 40,070
From: Ontario
Re: RRSPs
I did have another one with a hundred grand or so I'd accumulated in years when there was no other tax avoidance scheme available. I collapsed it to pay (some of) the legal and accounting fees associated with getting a divorce. That wasn't very tax efficient.
Oct 1st 2013 | 11:39 pm
#10
BE Forum Addict
Joined: Aug 2006
Posts: 3,124
Re: RRSPs
just imagine someone who needed to 'cash in' then!
Oct 1st 2013 | 11:41 pm
#11
BE Forum Addict
Joined: Aug 2006
Posts: 3,124
Re: RRSPs
Oct 1st 2013 | 11:47 pm
#14
BE Forum Addict
Joined: Aug 2006
Posts: 3,124
Re: RRSPs
for those married folks here it is a good idea to open a spousal RRSP if the other one is younger since it gives the two more time to accumulate
plus there is legal income splitting which is a plus
plus there is legal income splitting which is a plus
Last edited by montreal mike; Oct 1st 2013 at 11:51 pm.
