RRSP vs. Mortgage by Matt Reel https://padlet.com/reelmatthew376/fm97zr05ivvx en-us 2020-03-19 01:50:10 UTC 2025-11-22 07:45:28 UTC hello@padlet.com Paying down debt versus contributing to an RRSP reelmatthew376 https://padlet.com/reelmatthew376/fm97zr05ivvx/wish/471894725 This article from Bloomberg News Canada discusses a number of issues relating to the decision to pay down your mortgage as opposed to contributing to an RRSP.

I rather like this article because it talks about why Canadians don't usually see information about paying down their mortgages. This is because the big banks advertise a lot about investing in RRSPs. This is because the banks make money from people investing in RRSPs. Banks don't usually make any money when you pay down your mortgage instead. (They might even lose some.) So the author outlines the good reasons to pay down your mortgage.]]> 2020-03-24 00:38:53 UTC https://padlet.com/reelmatthew376/fm97zr05ivvx/wish/471894725 Mortgage vs. RRSP reelmatthew376 https://padlet.com/reelmatthew376/fm97zr05ivvx/wish/480041562 There are a few different factors that someone who is debating on where to invest extra cash, whether it be to invest in their mortgage or their RRSP. These factors include age, income, mortgage rate, your investment rates of return, how much you’ve already invested, and do you have a pension.
 
I picked this video because I like how it shows that you are capable of investing in both your mortgage and RRSP. The video also posts questions that can show you what you should primarily focus on when making these decisions.
]]> 2020-03-29 01:18:31 UTC https://padlet.com/reelmatthew376/fm97zr05ivvx/wish/480041562 The RRSP Home Buyers' Plan reelmatthew376 https://padlet.com/reelmatthew376/fm97zr05ivvx/wish/480044004 This video pertains to the RRSP Home Buyers’ Plan in which it explains how you can take out up to $25,000 to $50,000, on a tax-free basis, towards a down payment on a house. The Home Buyers’ Plan is generally only available for new home buyers. Each person is allowed to put a maximum of $25,000 each towards the homes’ down payment. It is like you are borrowing from yourself.
 
I believe that the presenter gave the information in a very straightforward and easy to understand manner. Because of this, users of this video can easily understand the benefits of the Home Buyers’ Plan.
]]> 2020-03-29 01:28:04 UTC https://padlet.com/reelmatthew376/fm97zr05ivvx/wish/480044004 RRSP vs. Mortgage payment, which one to choose? reelmatthew376 https://padlet.com/reelmatthew376/fm97zr05ivvx/wish/480044508 The video is short however it does have a good point that you will have to pay tax on your RRSP eventually. Thus, it is best to focus on paying off your mortgage. The video didn’t have much to convince me of this however and only really has a man saying to ignore everyone else's advice and just pay off your mortgage.
 
I think that this video is a good representation of people you should be wary of when deciding on investing in an RRSP or your mortgage. His presentation is not balanced, with pros and cons.
]]> 2020-03-29 01:29:59 UTC https://padlet.com/reelmatthew376/fm97zr05ivvx/wish/480044508 Is it better to pay off mortgage early or invest? reelmatthew376 https://padlet.com/reelmatthew376/fm97zr05ivvx/wish/480044816 By the time you are ready to retire, your house may not be worth as much as it was when you first bought it or as much as you were hoping for. Therefore, you shouldn’t focus solely on it while instead you should invest into your RRSP so that when you are ready to retire do you have actual savings that can support you for the remaining 10 to 30 years of your retired life.

I have included this video on my board because he talks about viewing your house as an investment, not as a home. This is a very impersonal approach to home ownership. I don't like that approach, but it might appeal to some people.]]> 2020-03-29 01:31:12 UTC https://padlet.com/reelmatthew376/fm97zr05ivvx/wish/480044816 reelmatthew376 https://padlet.com/reelmatthew376/fm97zr05ivvx/wish/480045424 I see this as you can ether invest in your mortgage or RRSP. You can either fully own your house or earn interest on your money and potentially buy a larger, different home in the future.]]> 2020-03-29 01:33:30 UTC https://padlet.com/reelmatthew376/fm97zr05ivvx/wish/480045424 reelmatthew376 https://padlet.com/reelmatthew376/fm97zr05ivvx/wish/480045518 The sign post is pointing in three directions, signifying to me three different things that I can invest in with my money. I can put that money into either a mortgage, an RRSP, or a mixture of the two.]]> 2020-03-29 01:33:51 UTC https://padlet.com/reelmatthew376/fm97zr05ivvx/wish/480045518 Welcome reelmatthew376 https://padlet.com/reelmatthew376/fm97zr05ivvx/wish/480047051 This wall will provide information to help anyone decide whether to put extra money into an RRSP or pay down an existing Mortgage.]]> 2020-03-29 01:40:24 UTC https://padlet.com/reelmatthew376/fm97zr05ivvx/wish/480047051 The five biggest RRSP myths that Canadians can't stop repeating reelmatthew376 https://padlet.com/reelmatthew376/fm97zr05ivvx/wish/480056311 This newspaper article was written by a contributor to the Financial Post. In the article, the writer looks at some of the misconceptions that many Canadians have about investing in their RRSP.

I have included this article because the author does a very good job of highlighting common misconceptions that many Canadians have regarding RRSP and other investment alternatives. These myths include tax consequences of various investments.]]> 2020-03-29 02:18:22 UTC https://padlet.com/reelmatthew376/fm97zr05ivvx/wish/480056311 Can I put my mortgage in my RRSP and other burning questions as the deadline looms reelmatthew376 https://padlet.com/reelmatthew376/fm97zr05ivvx/wish/480058044 The author is a contributor to the Financial Post newspaper. He is also a CPA and CA. The article goes through a number of tips and tricks relating to RRSPs and mortgage and other investments.

The reason I picked this is because the author goes through a lot of situations that many people have not thought about. One of these situations is putting your mortgage inside your RRSP as an investment. This way, you are getting your RRSP deduction, but paying your mortgage interest to your own RRSP. I though that was kind of clever.]]> 2020-03-29 02:21:59 UTC https://padlet.com/reelmatthew376/fm97zr05ivvx/wish/480058044 Pay Off Your Mortgage or Invest in RRSPs? reelmatthew376 https://padlet.com/reelmatthew376/fm97zr05ivvx/wish/480059725 This article lists each of the benefits of either paying your mortgage off faster or putting money into your RRSP. 

The reason that I like this article so much (if not the most) is that the writing is very clear. For each option of paying down a mortgage or investing, the author lists specific points for the benefit of each option. The reader can then determine whether the point applies to their situation or not. It is extremely easy to read this article. You can then make a decision based on specific benefits for you.]]> 2020-03-29 02:29:18 UTC https://padlet.com/reelmatthew376/fm97zr05ivvx/wish/480059725 Reflective Questions reelmatthew376 https://padlet.com/reelmatthew376/fm97zr05ivvx/wish/480060392 1. I learned you can use your RRSP to pay down part of your mortgage. I initially thought that an RRSP was just a holding account that you didn't get taxed on until you take money out of it.

2. I would like to buy a house when I am older and it is nice to know that there are a number of options and what is most beneficial to me in the long run.

3. In my opinion, paying down your mortgage is the better choice because in the future, when you want to sell your house, you will not have to pay any tax on it (as a primary residence) and you won't need to worry about the bank taking your home.


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