Quote:
Originally Posted by DoubleK
I have no debt and/or liabilities outside of my mortgage.
I am maxing TFSA contributions annually. I do not maximize my RRSP contributions, I am increasing them year over year, but have significant headroom to the limit and that will take a few years to narrow.
My question is to increase RRSP contribution or increase mortgage payments. My tax refund goes back to RRSPs.
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Again it is personal preference.
There is an argument to maximize your RRSP's and get the maximum tax refund.
But I like a balance of both. Increasing mortgage payments and take advantage of the low rates and protect myself from higher rates in the future and build wealth.