Quote:
Originally Posted by cougar_boy  It sounds like you want safe investment. I hate GIC's because your money is locked in. You can look into a TFSA at a high interest savings account. One of my fav. Is Hubert financial (happysavings.ca) there current rate is 2%. |
This.
Maxing out your TFSA every year should be a no brainer. Then the rest in mutual funds, high interest savings, stocks, whatever. That all corresponds to your risk tolerance.
Everyone will tell you a different story, but it depends on your situation. Money going straight into RRSP's doesn't seem worth it to me, personally. Depending on your bracket, for every ~$9000 you lock away, you only delay around ~$1000 in taxes. How much more could you be making with that $8000? RRSP's should be a last resort.
Unless you are absolutely terrible with saving/managing money, I think there are better investment options than RRSP's.. but that's just how I see it.
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