Remember when all you heard from investment salespeople during the RRSP season was about the 30 per cent tax credits available on a labour-sponsored fund?
Sometimes, they added the RRSP deduction and showed how 75 to 80 per cent of your contribution was subsidized.
Sounded like a great deal, right? But did they also mention the sky high management fees or the fact that a portfolio of emerging businesses might prove to be highly illiquid in an economic downturn? Read More…
Yup the management fees killed me and didn’t know at the time. Was a bit furious that the saleswoman didn’t bring this up at all.