Quote:
Originally Posted by CivicBlues
Hobz...gonna give you the benefit of the doubt you mistyped. But how is it we're in 2024 and still many many people think RRSP is some kind of investment? It's a container. It holds your money and hides it from the government (until you take it out). It doesn't earn money on it's own. You can have Savings Account RRSPs, GIC RRSPs, Mutual Fund RRSPs, ETF/Stocks RRSP. The level of financial literacy even among "wealthy" people is appalling.
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Oh trust me. I know. I keep telling people that the rrsp shit is a scam and to stop looking at this “tax” break you are getting in the Short term because unless you predict your income to drop off a cliff, you’ll still pay a shit load taxes on this nest egg you hoarded away when you’re 65.
That money could be doing a lot more work than sitting in a rrsp account growing at like 0.012%