Comments on: Don’t rush your RRSP decisions

By: Cradle of Hope Adoption Center Daily » Blog Archive » 20 Cents from February 2010

Thu, 11 Mar 2010 18:15:41 +0000

[...] Canadian Capitalist had some great advice for Canadians: Don’t Rush Your RRSP Decisions. Check out these great suggestions for avoiding a “hodgepodge” of investments in your [...]

By: 20 Cents from February 2010 | Balance Junkie

20 Cents from February 2010 | Balance Junkie — Mon, 01 Mar 2010 10:46:15 +0000

[...] Canadian Capitalist had some great advice for Canadians: Don’t Rush Your RRSP Decisions. Check out these great suggestions for avoiding a “hodgepodge” of investments in your [...]

By: Get the most out of Ontario Sales Tax Transition Benefit | Canadian Capitalist

Tue, 23 Feb 2010 14:26:49 +0000

[...] 23rd, 2009 · 11 Comments In the comments section of yesterday’s post, Returns Reaper reminded other readers that Ontario residents have an additional reason to make a [...]

By: Doctor Stock

Doctor Stock — Tue, 23 Feb 2010 03:44:02 +0000

One of the best decisions investors can make if they are going to make a RRSP contribution and have not planned their “purchases” is to simply move it in as a cash position. In light of the market momentum, this may serve as a double-bonus.

By: Financial Cents

Financial Cents — Tue, 23 Feb 2010 03:24:26 +0000

Good post CC, well said for those new to investing or non-couch potatoesque index investors. Couldn’t agree more. For those needing time to determine what type of security they want to invest in, better to “park it” instead of rushing into something.

By: The Rat

The Rat — Tue, 23 Feb 2010 02:42:06 +0000

I agree that pre-authorized setups are a much better way of planning one’s RRSP purchases.

Nice thread.

By: ioana

ioana — Mon, 22 Feb 2010 21:39:28 +0000

Great post, totally agree! No need to rush, first put money in, then shop later.

By: Returns Reaper

Returns Reaper — Mon, 22 Feb 2010 15:51:38 +0000

@CC: Now that you pointed me to the link, I do recall reading that post. It was so long ago, I think I’d completely forgotten about it. I should have searched your site first. Good work!

By: jo

jo — Mon, 22 Feb 2010 15:50:48 +0000

My partner and I are small business owners (and yes personal partners which most sane people should think twice about) and due to a sudden increase in revenue after many years of steady a growth pattern have found ourselves in great position of needing to offset taxes. We are equal shares owners and our CA has advised us to pull some money out and drop directly in RRSPs which is fine but here is my quandry: there is an age difference of about 15 years, and from everything Ive learned about investing this becomes a factor. My timeline technically is longer than his so do we invest differently/ separately? We also may be selling our business by the summer and my partner does plan on continuing private consult and or other work for the longterm. He is now going into his 60′s and is very healthy. Although Ive limited experience with investing I have educated myself over the last few years and some basic knowledge. Any thoughts would be appreciated.

By: Canadian Capitalist

Canadian Capitalist — Mon, 22 Feb 2010 15:32:50 +0000

@Returns Reaper: Very good point. I wrote about this when the Ontario Sales Tax Transition Benefit was tabled but it would make sense to remind readers that there is an extra bang for the buck for a RRSP contribution this year:

http://www.canadiancapitalist.com/get-the-most-out-of-ontario-sales-tax-transition-benefit/

“Adjusted” simply refers to adjusting the net income to exclude UCCB benefits. I’ll try and dig up a reference for the term; I found it on the CRA website.

@Calgary Investor: Yes. You can make a RRSP contribution on March 1st. The rule is you can make a RRSP contribution for the previous financial year in the first 60 days of the new year. 2010 is not a leap year, so RRSP season spills over to March 1st.