Judging by the barrage of Registered Retirement Savings Plan (RRSP) information you would think making a contribution before the March 3rd deadline is a slam dunk no matter who you are.
The truth is; it doesn’t make sense for a lot of people – especially if you’re young.
In most cases it’s better to pay down debt than contribute to a registered retirement savings plan. In some cases paying down your mortgage is money better spent.
I don’t just say this. I lived it. My story goes back more than 20 years. Sure, mortgage amounts are higher now and mortgage rates are lower, but the formula still makes sense. Read More…