RRSP Season Coming Up!
 

Where are you Canadian guys putting your money for tax season?

DH

for RRSPs i use seg funds - no real difference than mutuals but I like the creditor protection they offer. over and above that individual stocks.

i always buy mine the instant the rrsp year clicks over. so this year's were purchased a long time ago.

Its really the single biggest gift the gov't gives you and its crazy that more Canadians don't take advantage of RRSP's. Something like 80% of allowable contributions are not used. Crazy considering the prime loans and flexible repayment plans even. I have most of mine in balanced equities in several fund companies and used a healthy chunk a couple of years ago towards the 1st Time Home Owners Plan which is an amazing deal to take advantage of.

BTW, there is another thread just started on mutual funds:
http://www.gofuckyourself.com/showth...hreadid=101234

in the canadian marketplace that's often not the best time to buy, as tons of money floods into mutuals at that time (assuming you buy mutuals or stocks) - but you're a smart cookie so I'm gona assume you stick the little bit of coin into a self directed fund thing in the DIA or something like it and direct where the cash goes slowly from there over the course of the year.

waiting a month or two after RRSP season or buying them on a dollar cost averageing monthly basis might be worth looking into for those who want to maximize their investments.

yup, rrsp's are a no-brainer. i just wish they didn't have a fucking cap on them after you pass the max income level...

Offshore :Graucho





Just kidding.

Under my matress as usual.

my stuff is all very low risk. and buying early as possible, my money has more time to make tax free interest that year. i just hate the fucking cap.

helps to have a wife. I pay her an income (she does my books) over and above her wage (she's a full time teacher)- It really pisses her off cause I GIVE her more money then she makes - and then buy spousal RRSPs in my name with her income. Course I have to pay the tax on the money I give her though but by doing that I save on taxes as well - splitting income. Lets me have amost a doube RRSP every year - can't quite do a full RRSP on her income cause her pension reduces it by a bit, but only by a few grand, I can almost get another $10k on her for my spousal account - it's sweet.

yeah, that is sweet. i used to do that with my girl friend (she was common law) - income splitting to reduce taxes. too bad we broke up ;)

Hey Quiet wanna come move in with me and be my common law husband? :)

DH

i hope you had the the rrsps as spousal and kept em.

tempting... do they allow same sex couples to income split and do spousal rrsps these days?

what always frightens me into the outstretched arms of an accountant is the little things that can make an out-sized difference over time, like which funds and investment vehicles to hold in or out of my self-directed plan based on how thae tax is treated. So you should make certain investments out of your RRSP as the tax is treated more fairly then other investments and leave more room for other things to put within the protection of the RRSP plan. I try to keep up with it all but one little slip up compounded over a decade or two and you are a big fuck-up.