9:00 - 18:00 PM
It is never too early to start investing! Investment funds, RRSP, TFSA and many more financial products are useful when used in a proper plan. Do you know what products are right for you?
SHOULD I PAY OFF MY MORTGAGE OR PUT MONEY IN AN RRSP?
There is no one right answer to this question. It really depends on your personal and family situation. Canadians pay income tax on a graduated tax system, the higher your income, the more advantageous it becomes to put your money in an RRSP. Then you can use your tax rebate from the government to pay down your mortgage. For example, if you are in a 40% tax bracket, for every $100.00 you put into an RRSP, the government is potentially giving you back $40.00 that you can use to pay down your mortgage. So the right answer could be both.