or you can do what i did, since i didn't really have much in my rrsps i took out a loan at the bank and had them put it in an rrsp for the minimum 90 days. after that i withdrew the money and paied off the loan - however according to the new home buyer plan i was able to claim that i withdrew the money to go towards the house i was co-purchasing.Originally posted by madnezz
DId you know you can use up to $25 000 of your RSP on a downpayment?? check that out- it's a really good deal.
The X = 20Originally posted by qtip
As for the person above who stated they want to buy a condo, did you know that with RRSPs one can take out up to $20K for a first-time home buyer penalty free as long as you pay it back within X amount of years?
Man, I feel behind now. considering some of you are putting in 5 times what i am a month. On the other hand, i'm still in University and hence have a hard time making and saving money right now... I'm sure I'll be back on track in a few years once i'm out.Originally posted by nusty
I've been putting in around 100$ a year since I was 8 or so with a paper route.
okay, i just checked here:Originally posted by silver1
That's what the dude at the bank told me when I did my RRSP's last week.
i said "slightly higher risk investments" - meaning slightly higher-risk than normal rrsps. these investments can take a variety of forms and a good wealth manager will be able to help you determine the relative risks/returns of each investment.Originally posted by qtip
Of course, this all depends on your definition of "risky".