Is now a good time to put more money into our RRSPs?

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eortlund
Posts: 272
Joined: Tue Aug 07, 2007 12:18 pm

Is now a good time to put more money into our RRSPs?

Post by eortlund »

I know it is a tax advantage to invest in our RRSPs to the limit set by the CRA. I was thinking it's probably a good time to invest given that stock prices are low. But then someone cautioned me that you never know just how low they'll go, so perhaps now isn't a great time to invest?

Thoughts?
nelsona
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Post by nelsona »

There are many types of investments available for your RRSP. The tax deduction is available regardless of what you invest it, even a GIC or a money market fund, as long as you 'contribute'.

You can then 'invest' later.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
eortlund
Posts: 272
Joined: Tue Aug 07, 2007 12:18 pm

Post by eortlund »

[quote="nelsona"]There are many types of investments available for your RRSP. The tax deduction is available regardless of what you invest it, even a GIC or a money market fund, as long as you 'contribute'.

You can then 'invest' later.[/quote]

Thank you! Do you know anything about whether it would make the most sense to contribute now and invest later?
nelsona
Posts: 18677
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

That is investment advise, which I really don't care to get into.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
eortlund
Posts: 272
Joined: Tue Aug 07, 2007 12:18 pm

Post by eortlund »

[quote="nelsona"]That is investment advise, which I really don't care to get into.[/quote]

I understand-thanks.
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