RRSP TIPS & MISTAKES TO AVOID | Investing For Beginners In Canada

[@beaviswealth]

If you haven't seen my previous video on RRSPs.... *WATCH THIS ONE FIRST!* kzbin.info/www/bejne/o4OVm3RmqMlmmac 📈📚 As always, if you're a beginner to the Stock Market in Canada and you're looking for a step-by-step blueprint on how to get started... Find out more about our Investing Academy here - bit.ly/theinvestingacademy

[@riorin8829]

Hey Brandon , Vancouver local here as well. I would just like to thank you for your videos! well done! very informative

[@jackwang8625]

Hey Brandon, great stuff! Question about RRSP unused deduction carryforward: for a deduction limit created in the event of a U.S. IRA to RRSP conversion, can unused deduction be carried forward like normal unused RRSP deductions?

[@ANTHONY47814]

Everything like a sc*m...Like putting all your financial stuff in shi

[@rockwellantonette4238]

@@amydiscovered2665 I listened to her podcast on Nft bubble she is a Great speaker, full of humor and rhetorics. I so much loved her presentation. Hopeful she replies me soonest. Much love!

[@katrinaotto7545]

Is she reqistered if not Risky!!!

[@GriffinMilks]

Must be RRSP season with all these RRSP vids coming out lately! Nice tips Brandon! 👍

[@iansewell5494]

I have a bit of a technical question for you guys, if I have an existing RRSP with my employer, could I possibly open another personal one with Questrsde or wealthsimple to by US dividend stocks with my extra contribute room at the end of the year? Just wondering cause my company only offer weird mutual funds based on risk tolerance rather than more effective proven etfs

[@remilarose-debilly8047]

@@iansewell5494 I'm pretty sure that unlike TFSAs you can only have one RRSP

[@iansewell5494]

Appreciate the insights man

[@shamilgretzky123]

@@iansewell5494 You can have multiple RRSP accounts if you are within the limit. I had the same question and did a quick google search: Can you have more than one RRSP in Canada? There is no limit on the number of RRSPs you can have. The limit is on the total amount you can deduct. However, most people find it simpler to have only one or two plans, making it easier to keep track of their RRSP investments.

[@TylerMBP]

does the CRA website take into account contributions done by your employer when it shows your deduction limit?

[@LamPhungXuan]

great video, just a question. If I buy stock using my RRSP's fund, and gain a capital. Am I able to withdraw that gain out of my RRSP without tax and losing my room? I mean I just withdraw my gain amount, not the one I contributed. And what if I invest and get capital loss

[@landokhan]

I'm very interested in understanding this too> What happens to all the gains in an RRSP?

[@McWrisk]

You would be subject to withholding tax assuming you are under 71 and then would pay the tax on that gain as you would as income at your marginal rate. Also yes this will reduce the room.

[@OscarHanzely]

Wow, I just discovered your channel a week ago but man, you explain things so clear. I watched tw other videos about TSFA and RRSP and most of them just say same things, but you answering questions is the missing information that person like me would need to look for financial advisor to retrieve. You pack so much value in your videos and it is Canadian market oriented. I am subscribed and going to ingest your channel in upcoming weeks. And thinking of investing academy too, but need a base to build on.

[@yasyas2355]

Thank you! you explanation is clear, simple and concise

[@aluminiumiodide]

Can you pay the tax on some of your rrsp holdings *without* withdrawing from the account? Because like you mentioned, once you withdraw you can't put it back in so what if you want to pay the tax on some of your money right now but not actually withdraw the amount? is there even any benefit to doing this?

[@loveluv7311]

This is a great video Brandon! If I am in the lowest income tax bracket, but my employer is willing to match up to 5% of my earnings into RRSP, would you recommend contributing 5% of my income into RRSP?

[@underling]

100% yes. Employer matching is an automatic 100% return on your money. Don't contribute more than they match, but absolutely match the maximum. As long as your RRSP fund continues to grow, you are guaranteed to double your money instantly (via your employers contribution) plus the long term growth of your investment.

[@mastertrader3491]

Good day Brandon, can you please clarify Tip # 4 - (Don't have to deduct taxes immediately) - am confused - On the last part you stated you get a tax break which you can re-contribute back into your RRSP but then Tip # 4 it's the opposite. If you can deduct it now then re-contribute it into your RRSP why would I not use it etc. - can you please clarify, thanks

[@jankay8569]

Best video you've done so far. Goodjob Brandon, and this is coming from someone who doesnt even like educational videos, i prefer just stock picks actually

[@julianacristinacunico9765]

Thank you Brandon! That example of the student was exactly my case! I expect to earn more in a few years and wasn't sure if the RRSP was a good option for me... Now I know HOW is a good option!

[@beaviswealth]

Perfect!!! yes... very common situation to find yourself in... Glad it helped :)

[@chrisjaison3330]

What is the best investment to make in RRSP? How about buying S&P tracking etfs of both Canada and US in the RRSP for long term?

[@landokhan]

What happens to all the gains in an RRSP? Can I withdraw without penalty/tax?

[@nelsonfarrell5307]

Can you buy and sell stocks or mutual funds in your rrsp without being penalized.

[@nevillejames2200]

Hey Brandon thank you. Happy holidays. How do you decide when to buy stocks in your TFSA vs. RRSP?

[@villiam2696]

Is it correct that if i'm not going to invest - it's not useful for me?

[@deaestomo8584]

Hey Brandon, what bank has the best rate for RRSP in Canada? Thank you!!

[@MssMalak]

Hey brandon, you are very knowledgeable. Happy to listen to you. I have contributed by mistake in RRSP account in wealth simple and when I tried to withdrew the money i get charged $30on $150. It’s very important to educate our Selves before withdrawing the money . Basically it’s our money and you get penalize for taking it back .

[@vimalalwaysrocks]

Noob Question on Mistake#3: Over contributing. Am a new comer to Canada. My RRSP contribution limit is 0$. My employer does a 50% match on RRSP upto 4500$. So I am over contributing 9000$ + 4500$ = 13,500$ Assuming I pay 1% per month in fine for an year, I will be losing 135$ x 12 = 1620$. I thought I would rather lose 1620$ this year rather than missing out on my employers' 4500$ RRSP match. Is my decision good?

[@wpgfung]

Hello Brandon, I'm just wondering can I do day trading on RRSP account??

[@DreamsUnending]

My favourite KZbin channel right now! Thanks for your work and tips, they're truly appreciated!

[@beaviswealth]

Thanks Gabriel!! :)

[@RS-el2oy]

Can you day trade using your RRSP? Any idea what brokers allowing that?

[@fashion3k-truestyleneverdi494]

Nice Video since I wanted to buy some AMC Entertainment shares in my RRSP and TFSA next week

[@shukurjamil444]

Thanks for sharing information. I have questions regarding investment with RRSP. If i invest my RRSP to buy share stocks i will not lose my space in RRSP? Since my cash will come out of my RRSP to buy share stocks?

[@alishab9923]

If I already have a RRSP with TD bank, but i want to start investing in stocks, and I want to use Quest Trade or Wealth Simple, would I have to do transfer my funds from TD to one of these places?

[@johnlab3629]

I invested 20k into my RRSP’s this year , excited to see just how much it reduces my taxes. I own a business so it would be nice getting a large tax break

[@luisdemetrio3053]

When I access my RRSP account in the CRA web site I do not see my previous RPP contributions. I have it from my employer but It is not included in CRA web site? Thanks Brandon

[@Arturma]

Hi Brandon, I have a question. Let’s say one person contributed $100,000 over many years and deducted all this amount from taxes. Once he/she withdraws the money they have to include $100,000 back to taxes and pay it, right? What if this $100,000 is now $200,000 and the person withdraws 100% from the Rrsp? Should he/she add $100,000 or $200,000 in terms of taxes? Thanks

[@piddis88]

Can you buy and sell stocks in a RRSP account and get capital gains like TFSA? I understand that I will be taxed when I want to withdraw the money at the age of 71 after retirement. Am I right?

[@StevedoesSMC]

I know a guy that contributes 40% of his income to his rrsp, which would most definitely mean he's over contributing....could it still be beneficial to over contribute and pay the 1% penalty?

[@delicious9930]

Can you « short term trade » options in a RRSP, given that you will have to pay taxes on it anyway as soon as you withdraw?

[@jagwarz]

Can we put commodities like Gold and Silver into our RRSP or TFSA? Silly question :)

[@johndaniel21343]

I thought you'll tell about also how many trades we can do in a year and also if we buy us stock mainly instead of Canadian, their os reglementationd and mistake that could be made

[@matthewturgeon767]

Great video what about swing or day trading?what would the tax be in that situation. I am currently not doing this I told my friend to use a cash or margin account

[@helixrl660]

For Tip #4 you explained we can defer that deduction in the future. So if I put in 18K today then 18K next year. Am I able to deduct 36K Or only up to 18% of whatever my new income was up to the 26K cap?

[@f3wbs]

Tips 3 and 4 I didn't know. My mom took a loan to put money into the RRSP then had to give it back plus interest. She still hasn't put money back into it... I'm planning on putting my tax refund in my TFSA since it'll probably take me 2-4 years to max it.

[@beaviswealth]

Very nice Jordan 👍🏻

[@pratheekArakkal]

I just started to watch your youtube channel few days back. this is more informative and easy to understand regarding the RRSP and TFSA. AM sure there are a few people like me checked the RRSP contribution room limit after watching the video. :) Thanks from the great video. I have a question: You said RRSP it is a tax free when you contribute to RRSP account. So let say i have RRSP account with one bank and i need to contribute to 100$ very month to account. In that case should i tell my employer to contribute the money to that account before it get taxed? Or as you explained on your previous video that it will change your total bracket of tax of that year and give that money back. Am little confused how can i contribute the money into RRSP.

[@rezashah115]

Hi Brandon! Thanks for the informative video. 10/10. Quick question, can I use my RRSP contributions to invest specifically in one stock? (Such as Microsoft). Does this work? Thank you.

[@kuro515]

RRSP is the type of account, how you invest (use) your money within that account is completely up to you

[@SillyWilly101]

lol at 3:04 min mark on the red x it sounds like a fart lol. I'm not sure if you should change it as it makes me laugh lol...yes i'm an adult...mostly

[@iustinaKojin]

So I make a lot of money and it goes towards debt.. would I be able to increase or decrease the % over the years

[@hsidhu4762]

Thinks for very helpfull topics . Is there any percentage amount limit for trading from my rrasp fund

[@rajeshmogalapalli5365]

When we withdraw funds from RRSP account at retirement, what is the % taxes that will be deducted if one has accumulated $100k in their RRSP account? If we are anyway paying taxes on the amount that we withdraw from RRSP account at retirement, what is the use of putting money in the RRSP account in the first place. It sounds like we are saving on taxes now and then paying back all those taxes back at retirement, when we withdraw funds. Could you please clarify? Thanks.

[@FellatioHoratio]

FYI on HBP it is interest free but you have to pay back the money annually for 15 years (amount borrowed divided by 15) or you can not pay it but you have to declare it as your income in that tax year

[@abrahamkk2218]

If one resigns , could one transfer RPP to rrsp account? Because in rrsp you have control over investment. What are limitations of transferring RPP to RRSP? Lock in period for entire RRSP account or for the amount transferred?

[@Po101080]

Thanks Brandon! I had a question: suppose my investments in the RRSP has capital growth, e.g. from my $1000 investment in some stocks, the market value now grows to $1500 and I sell some stocks to get $500 in appreciation. Since it is a RRSP account, is this money meant to just stay in my account (even though I know and as you said you can certainly take it out)? In other words, are all my capital gains in the RRSP meant to just stay inside to reinvest and grow the investment? Not really for you to get a profit and spend it elsewhere?

[@natashanoble5045]

Love your advice on mistake #4. And YASS for lifelong learning plan not eating up contribution space !! Thank you!!

[@a004]

Are there any restrictions on "day trading" in an RRSP? I know the CRA frowns upon it in a TFSA, what about in an RRSP?

[@jenn151337]

If I invest US cash in US stock in a tfsa, and am subject to a 15% capital gain tax, does this money still count toward my contribution limit? And if so how is it calculated?

[@Okanaganguy2021]

Question for you Brandon. I have never used my RRSP when I retire at 60 I plan to max out my RRSP and invest until I am 71. What I am wondering with the RRSP if I put my own cash in the account do I pay tax on the money I put in as well or just on the income earned inside the account? Thanks for sharing your videos! Very educated young man:)

[@beaviswealth]

Thanks. I think I understand your question. Whatever the amount, when you put the money in, you get a tax deduction. When you take it out, you are taxed on everything, the money you put in and the income earned.

[@Okanaganguy2021]

@@beaviswealth Ok Thanks! That's what I thought.

[@ronzeta1497]

Thank you so much for speaking so clearly on this topic! Really appreciate it!

[@austinsmith2756]

The tip about holding off on RRSP was solid advice man! I took a pay cut in 2019 due to covid 19 I will be expecting a pay raise in the new year. Using your tip is going to save me huge. Looking forward to checking out more videos Brandon.

[@Mani-xh9xi]

Can you also let us know if we withdraw money from RRSP as a part of first home buyers plan or life long learning plan. When should we start to repay it? Also, can we repay it as lump sum in a single year?

[@beaviswealth]

Check this out! www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/what-home-buyers-plan.html

[@fernandabatistutademesquit3269]

Hey Brandon. One question, where, on the CRA website, I can find the room that I have to contribute to the RRSP? I just found the RRSP deduction limit and the TFSA contribution room. Thanks for all your help, your channel is very well explained and helpful.

[@harjinderthind]

Fernanda Batistuta de Mesquita You can find that under ‘My Account’ on CRA Website.

[@fernandabatistutademesquit3269]

Harjinder Thind thanks!

[@henrydoone7554]

I never contributed to RRSP and now the total room is 73K. March 2nd is gone, so how can I use RRSP to buy stocks and how much I can use?

[@zamran100]

Brandon, I have a 7 k in my RRSP. How can I buy stock from that. Please help out

[@itsjuliehoran]

I'm wanting to open an account with WealthSimple (still unsure if I am going to go with Trade or Invest), as I want to open an RRSP to invest in for retirement. My dilemma is that I also want to hold money for a down payment of my first home. I am not sure if an RRSP or a TFSA is the best route for this money - I know that the RRSP includes the HomeBuyers Plan, but the idea of having to pay the money back within 15 years seems daunting. Any advice?

[@ashwinmathew7459]

Hey Brandon .. great content. ... I have a doubt, let say I have an investment of 5000 in RRSP and its value went to 7000 in future. If I plan to withdraw that amount, for how much amount I will be taxable for? 5000 or 7000.

[@sumanthcheedepudi8751]

It will be always on the amount that you contributed. So taxable amount in your case:5000. It was explained in the suggested video.

[@recycle0077]

If you are not putting into tax forms that you contributed this much money into RRSP , will capital gains are still taxable?

[@jt2317]

Hey great video, any tips about how to reduce/avoid tax when withdraw RRSP at old age.

[@cheniie95]

If we max out our TFSA, should we max out our RRSP next? I can't find this info anywhere.

[@kuro515]

Basically only if you think you're going to pay more in taxes now than when you plan to withdraw it

[@camoumilecamoflage8875]

what if i made a dumb mistake and over-contributed. If I withdraw the excess in the same month and invest in TFSA, will it still be subject to the withholding tax? can I have the penalty reversed?

[@marylambros2149]

I Google it, for Quebec withhold tax on RRSPs is it 15%?

[@CrissPons]

Awesome videos Brandon! I am new in Canada and can’t tell you how much useful this is!! 🤓 THANK YOU!

[@apurbapaul8157]

Wondering if day trading is taxable from RRSP even if I do not want to take the money out from RRSP now.

[@thirteendeals3506]

Nice video Brandon! Any tips on the spousal rrsp for homemaker?

[@67cici]

Excellent question

[@LPBsnaha]

I have been investing in RRSP and TFSA for the past 2 years ever since I moved to Canada. Can i increase the cap of my investment into these two investment funds calculating from my 18 years age till my current age? Currently I am 40, therefore do I have space to put in money into these funds for 14 years?

[@subodhchoudhary7128]

Hello Brandon, Very Nice video. One query though, Everywhere it is mentioned that RRSP is at the 18% of prev year income. I'm in dilema. Here is my question.. My 2019 income is zero as I landed to Canada in Dec 2019 but my 2020 would be around 100k. So, considering stable salary income , Can Invest I in RRSP may be 15% income now without waiting for year end .

[@flipdzon]

Hey Brandon, awesome video. With this COVID-19 pandemic, the market, to put it mildly it has been crappy!! I've lost so much in my RRSP in the past 3 weeks. Is there anything I can do or just ride it out?

[@kuro515]

And here we are again with it worse again... Lol

[@keen4737]

If my rrsp contribution room is 40,000 and I made 35,000 for the year does that mean I can put 20,000 in my rrsp and pay tax on 15,000?

[@kennethsarita]

Hi Brandon, just want to clear out for my case as an immigrant. We landed Feb 2020, so does that mean I can make my RRSP contribution now and claim it against my first tax dues this Mar-Apr 2021 tax season?

[@shyadeny]

Are you able to have multiple RRSP accounts like you could with TFSA? Would I be able to open up say, another RRSP account at a different institution while keeping the preexisting GRSP through your workplace, connected to another financial institution? Also, could you elaborate on point #4? I am still confused as to what you mean. Thank you!

[@wiseman4160]

Explain point number 4 I'll give you an example. When you give to a charity or a church, you can use those charity giving on tax time. Now say one year you didn't owe a lot of taxes, that would be a bad year to use your charity giving to lower your taxes, because you have 5 years to use those charity giving receipts to owe less taxes. So say I was giving to charities for 4 years and one year I know I would owe a lot in taxes, I can use all those previous years of charity receipts to get a good brake on taxes owed! Same exact thing with RRSP, you choose the year to use it to owe less on taxes. Aparently there is some Canadians that are surprised when they find out they have a few years to claim charity giving to help on taxes.

[@jorrellelim6697]

awesome videos. i subscribed. this is exactly what i need to watch. ive always had these questions about rrsp where i thought you have to deduct the contributions the next year. i wanted to only use a portion of my contribution

[@camilosad1979]

great one man, one quick question here: is the tax refund I receive considered as regular income?

[@NicksTaxes]

Camilo Sad no it is not. Any interest the CRA pays you on top of your refund is taxable but the CRA will tell you that information on your notice of assessment if applicable!

[@canadianjatti]

no, it's an over payment of tax for that tax year.

[@djss7122]

Hello Brandon, Another great video, thank you for the insights. Is the $2,000 cushion for the RRSP over contribution a one time deal or is it available annually?

[@beaviswealth]

You can carry it over, but it's not cumulative. For example, you can't go over by $2,000 in year one, then again in year two, year three, etc. But if it stays at that level you're ok.

[@djss7122]

@@beaviswealth Thank you for your explanation. So, is it considered a $2000.00 lifetime grace amount

[@scottdoucette8959]

Lots of quality information, thank you.

[@oleksandrporiechkin3597]

Thank you Brandon for the video. At work I also got DPSP but I do not really understand how it works. Read articles tried to understand but still have some concerns, especially who is contributing Employer or Employee. I would appreciate if you explain this one. Thank you.

[@NicksTaxes]

Good video and good point re RPP. No double dipping! 😅

[@briah9120]

Great content, thank you. You are very well spoken for a young guy, you have a DJ's voice. I would like to ask, say if one has made profits from investing with the RRSP, how does it work, as you mention , if the profits are not taxable, if one makes a withdrawl, is there still a withholding tax on all of the withdrawl or a portion? Say if one has an original registered deposit amount of $5000. and has made $5000. profit with time. If one withdraws $3000., is tax withheld on all of the amount or a portion? Is the profit kept in the RRSP until withdrawn or is the interest/profit put into another account as soon as it is made? Thanks again

[@YoussefHallouly]

Hi, i have 15k in a rrsp sitting in my bank doing nothing, can i transfer that 15k into a questrade rrsp without paying tax cause if i move that money it’s like a withdraw right?

[@pedrojuan5362]

i have a RRSP account in Scotia Bank Can i open another RRSP account in WS?

[@jmerry13]

What does he mean when he keeps saying "that space is gone you can kiss it goodbye" when referring to taking a distribution from your RRSP? Does he mean, for example, if I contributed my maximum 18% for the year, then took an amount out for vacation, then I wouldn't be able to contribute again in that same calendar year?

[@kuro515]

It means that value you withdrew won't be re added to your contribution limit (unlike a TFSA), it's gone in the sense like you never gained that room at all

[@Mani-xh9xi]

Hey Brandon, I do have DCPP (Definite Contribution Pension Plan) with my employer affiliated with one of the major insurance company. What is the difference between RRSP and DCPP?

[@beaviswealth]

hey Mani! It's kinda similar actually because a DCPP is basically taking money off of your payroll and investing it for your retirement! The RRSP would be a similar idea but it would be personal rather than through work :)

[@lilnapkinn]

RRSP Overcontribution: does that mean you can actually contribute $2000 more than 18% of the previous year's income, every year?

[@LivPoxleitner]

i have an rrsp with scotia. its sitting in cash rn though.. maybe ill move it to questrade and buy etf with it. build it over time..

[@dalwindersingh9455]

I need some help with investment can i contact you?

[@lilnapkinn]

For clarification purposes, right now (January 2021) I can contribute to my 2020 RRSP (up to 18% of my 2019 income). This amount I contribute goes against my 2020 contribution limit (not 2021)?

[@DM-pi8jj]

I'm also confused about this. Leaving a comment in case someone can help us out :)

[@eugenemamchyts8655]

nicely done. Thanks. It might be possible for you to clarify the situation with defined contribution plan when employer match employee contribution. Contribution, employee made comes from employee RRSP contribution room. What about employer part? does employer contribution part count towards employee contribution room? thanks

[@ZzFactorzZ]

So if I had 15k that I want to withdraw from rrsp... I could just withdraw 5k each year and pay 10% witholding tax each year (1500$ Total), instead of paying 20% on the 15k (3000$) right? Is my math wrong?

[@xxGecko22xx]

Just a quick question, do cash dividends count as TFSA contributions in which the 1% per month tax will apply if it goes over the contribution limit?

[@beaviswealth]

Nope! Good question jason

[@alexnezhynsky9707]

Any growth or loss you incur doesn't affect your room at all. Only your deposits count as contributions. I was puzzled by the same question myself a while back.

[@alanmacleod2669]

So I can intentionally contribute $2000 more than my limit to my RSP and not get penalised and keep that $2k in my RSP and invest it? OR will the CRA tell me I am 2K over and expect me to withdraw it?

[@arp3122]

Hey Brandon! Great content. I am new to Canada and was struggling with understanding about taxes and these different investment accounts here. Your videos have been really helpful. I have one doubt and was hoping you could clarify - I landed here this year so this is my first year making any money in Canada. I am yet to open my RRSP account. I am also planning to buy my first home in the next 2-3 months. Can i take 18% of my earnings for this year and add them to my RRSP this month and then withdraw them in, lets say Feb 2023 for the downpayment of my house? Would i still get tax benefits? Again, appreciate the great content! Thanks!

[@Jswindlez]

Hey bro, first off great videos I am subscribed to your and have watched many of your videos. I am new to investing and finance really as a whole. I have opened a Questrade account and will be opening a RRSP, my question is once I complete this process on Questrade will the money be automatically taken off my pay or do I have to do anything with my company I am employed with ? Please let me know thanks.

[@beaviswealth]

You'd have to make the deposit yourself into the RRSP. They RRSP is your personal retirement account, wouldn't be through work unless they offer a group RRSP :) Thanks man appreciate the support!

[@Jswindlez]

@@beaviswealth I'm.just confused on that part though, isn't the money supposed to be deducted from your pay before it's taxed? Because if I do it myself the money would have already been faxed correct ?

[@madelinepark7944]

My built up contribution room through the website states e.g. 20k because I never contributed for the couple years I've been working. Can I contribute the full 20k right now without penalty? Or do I still have the restriction of the 18% contribution rule based on my income last year?

[@alexnezhynsky9707]

The room adds up other the years. So yes, you can put in 20k if that's your cumulative room. Just beware of the yearly limit, e.g. 26.5k for 2019

[@bindass87]

How about if someone moved from another country and had no income last year in Canada

[@67cici]

Would you recommend someone 64 to put money into RRSP?

[@beaviswealth]

Depends on so many factors. Age by itself isn't the determining factor. - Marc

[@sdmugabe]

Thanks again man!

[@momo35444]

great video! thanks for the content. learned alot

[@scattysigue3604]

I just got an rrsp loan minutes before you post this video. Any advice or maybe you already have videos regarding investing leverage via loans 👍🏻

[@OrangePop-q2y]

That is very dangerous invest in my opinion.

[@abrahamkk2218]

Depends if you're able to earn more than the interest you pay then it is a good decision.. Even if don't invest you get tax benefit now but you'll pay later when you retire or withdraw. Couple of ideas: Invest in gold or silver.. slv , gld. Invest in index funds . Spy, qqq, iwm

[@abrahamkk2218]

If you are speculative then you could buy spce.. but be warned it could be a pump and dump scheme.. Similar bubbles in past 2 to 3 years are ostk (block chain), weed, svxy.

[@beaviswealth]

No videos on this yet Llyod but I'm not totally against RRSP Loans, you just gotta be careful with borrowed money.

[@scattysigue3604]

The loan is payable in one year, and I’m already saving that much every year so no problem paying it. I bought dividend paying stocks. current dividends will cover the interest and have extra, then after a year all dividends is mine to keep. Regarding taxes on retirement I’m well aware of that and have some rough plans to minimize paying taxes.