Another Financial Question thread

[Bobblehead]

Originally Posted by Looger

buy gold. lots of gold.

Million Dollar Coin

[Looger]

Originally Posted by Bobblehead

Million Dollar Coin

i'm saving up for it as i speak.

ha - no seriously it's british soveriegns, american eagles, and the most pure - canadian maple leafs.

[Resolute 14]

Originally Posted by return to the red

Not saying that I don't contribute to my RRSP's rather that I'm not maxing them out on a yearly basis. Usually I contribute about 3,000 per year and find that the 200-250 per month is just about the right amount that let's me contribute while still saving to pay down my debts. It also helps I get a significant bonus every year

Ahh, k. Sounds like you are in a very similar spot to me, except that $250 a month on the RRSP is about as high as I can reasonably go. I would love to put more, but that will have to wait until the end of the summer when I do get my debts eliminated.

[MoneyGuy]

There is no easy answer to this question, and you certainly won't get it here, although there have been some intelligent answers posted. The original poster's question is very complex. It depends on your marginal tax bracket, your debts and other cash-flow issues plus other considerations. If you want to PM me some details, I could offer an opinion. But generally, if you don't have high-interest debts and you're in at least a 32% marginal bracket, I'd recommend making an RRSP contribution.

MoneyGuy
Certified Financial Planner