RRSP Message Board - Msg: 12642031

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Pastimes : RRSP

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To: Pied Piper who wrote (7)	1/21/2000 5:29:00 PM
From: HubTech	Read Replies (1) of 22

I didn't think she was saying that you would be farther ahead by not contributing to an RRSP. Which point are you referring to specifically? In your two scenarios are you accounting for the tax you will have to pay to withdraw the money from your RRSP at retirement? In order to minimize that tax you will have to withdraw it slowly. I understand that your ongoing expenses at that time should be dramatically lower then they are now but that doesn't mean that my spending habits will <GGGG>. And what are you assuming the tax rate will be at that time? I'm not saying that RRSP's are a bad idea (nor I think is the author), just that they may not be as good as everyone makes them out to be in some cases. Now if you're one of those who needs the forced savings, and don't invest regularly otherwise, then RRSPs are a great option. I, however, choose to do most (but not all) of my investing outside of my RRSP. My wife and I will be contributing at least $1333 each for the next 15 years because we took advantage of the New Home Buyers plan. I want the whole enchilada available to me (or a big chunk of it anyway) when I retire, so I can spend it as I see fit.

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