For most people, getting a windfall of $10,000-through an inheritance, a severance payment or a small lottery win on the weekly Scratch ‘N Win card-can make a huge difference in their lives. Whether you invest in your small business, save it towards a long-term goal like retirement, pay off hefty consumer debt or help your kids with their college education bills, doing so can speed up your journey down the road to financial independence. But first you need to figure out the best place to put your money to get the maximum payoff. Here are some options. Read More…
2013-05-12
RRSP is always the best option to take when you get $10+K in money to invest. But if you contribute to your maximum limit then what do you do?
I just spend it when i get something like that. Yay for me! Not wise but i am young and feel invinsible. lol!
Good read! Wish there was more though.
I was hoping for more info besides RRSP information. Anyone have other ideas?
With $10,000 it really depends on your options. Yes one can put it towards a ETF stock market account but you will be taxed on fixed income (assuming it earns dividends). There is a step by step one should take to maximize and save on taxes.
It escapes me right now though.
How about TFSA contributions too?