Quote:
Originally Posted by Rerun
Lets say you are married and have a family income of $125,000 before taxes, per year.
You have no debts other than a $300,000 mortgage at say 3% interest.
No dependants.
Wife won't let you spend the money on hookers and blow.
What would you do with the money?
Pay down your mortgage?
Invest the money in secure investments? (what type? ie. stocks, mutual funds, bonds?)
Buy some rental properties?
Something else?
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Assuming there is contribution room available I'd put the money in an RRSP, then max out both TFSAs, then pay down the mortgage. Then in the spring I'd use the tax refund from the RRSP contributions to put towards the mortgage. At 3% you can make more money investing wisely within an RRSP/TFSA which is why a mortgage pay down would be choice #3