Think of an RRSP (Registered Retirement Savings Plan) as an oak barrel. Into an oak barrel you can put a variety of lovely liquids. Red wine, white wine, and scotch are my favorites, but oak barrels will hold almost any liquid. An RRSP is similar. It’s a tax shelter, created by the government, into which [...]

Here’s a question for you.  If you were retiring tomorrow, what would you rather have: $1 million in your RRSP, or $1 million in your non-registered account?
Hopefully you picked the $1 million in your non-registered account.
Ideally, when you retire you want all of your money to be non-RRSP money.   Every dollar you take out [...]

Everyone who’s approaching retirement asks this question. It’s a question without a simple answer because it depends on several variables.
How much tax you pay. The more tax you pay, the bigger your nest egg needs to be. The less tax your retirement cash flow attracts, the smaller your retirement nest egg can be. Accounts like [...]

There is a common belief among investors that the secret to building wealth lies in your ability (or your advisor’s ability) to hit home runs with your investing – and it is complete nonsense.  I’m not exactly sure who started this myth, but I know that it has been kept alive by some in the [...]

An RRSP is a container, created by the government, which holds all sorts of different investments. Some investments are better suited to being inside RRSPs and other investments are better suited to being outside of RRSPs.  You should always consider this fact when building your investment portfolios.
The difference between choosing the right investments and wrong [...]