REVscene Automotive Forum - View Single Post - You inherit a tidy sum of money. What do you invest in?

yameen · 11-23-2020, 04:42 PM

my tfsa is maxed out and with the current market, i believe the % return will outweigh putting money into my mortgage. however, my question is, do you people try to max out your rrsps before putting money into a non-registered taxable account? I like having the luxury of withdrawing money from the cash account as opposed to having money locked into rrsps until retirement. but filing capital gains will also deduct a big chunk of what you earn whereas in rrsps you dont file your capital gains until you retire. another benefit of me buying rrsps is it will allow me to lower my tax bracket (which i dont even know what it is but i'm making $100-110k). what are peoples thoughts on this?

11-23-2020, 04:42 PM	#47
yameen Even when im right, revscene.net is still right! Join Date: Jun 2002 Location: Vancity Posts: 1,365 Thanked 156 Times in 63 Posts Failed 37 Times in 20 Posts Member's Picture Albums	my tfsa is maxed out and with the current market, i believe the % return will outweigh putting money into my mortgage. however, my question is, do you people try to max out your rrsps before putting money into a non-registered taxable account? I like having the luxury of withdrawing money from the cash account as opposed to having money locked into rrsps until retirement. but filing capital gains will also deduct a big chunk of what you earn whereas in rrsps you dont file your capital gains until you retire. another benefit of me buying rrsps is it will allow me to lower my tax bracket (which i dont even know what it is but i'm making $100-110k). what are peoples thoughts on this?