My RSP's are doing nothing fuckn good for me.

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  • foghead
    Confirmed User
    • May 2007
    • 113
    #1

    My RSP's are doing nothing fuckn good for me.

    I have an account for 8-9 years and seen little to no growth,yet i talk to the bank and they tell me "you have the right portfolio,it just takes time". Yeah right,with $xx,xxx i only made few hundred dollars all this time?

    Im willing to pull everything out and invest into stocks or bonds but dont have a clue or know where to start.On top of this,i will be hit with a big tax fee if i wthdraw any money out.

    So my question is..Do i withdraw all my Rsp;s out and pay the hefty tax and invest elsewhere? or just leave them there.
    Tags: None
    • Spunky
      I need a beer
      • Jun 2002
      • 133978
      #2
      Leave them.the worst thing is to panic.it's still a tax incentive.mine have sucked too

        Comment

        • Supz
          Arthur Flegenheimer
          • Jul 2006
          • 11057
          #3
          better to make a small amount, then lose in a retirement account like most of america has

            Comment

            • WiredGuy
              Pounding Googlebot
              • Aug 2002
              • 34513
              #4
              Never cash them out unless your on the verge of bankruptcy.
              Why take a huge tax hit (plus interest since you made that income).
              It can easily go over 50%. Just invest in something different thru the RRSP's.
              WG
              I play with Google.

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