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#1
03-06-2008, 03:19 AM
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I heard that tid-bit in the news. I plan to take full advantage of it, I all ready do automatic monthly savings for future purchases and this will make that even better.
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I retired and got a fixed income but it's broke. Ed _______________________________________ 50 gallon FOWLR, 10 gallon sump. 130 gallon reef, 20 gallon sump, 10 gallon refugium. 10 gallon quarantine. 60 gallon winter tank for pond fish. 300 gallon pond with waterfall. 
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#2
03-06-2008, 03:35 AM
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I heard about that too, and as soon as my bills are paid off, my bill money will be invested into one of those.
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I'm Melody (or Panda  )50g cube SW tank (24x24x20) w/20g sump and internal overflow box, Coralife 24" 2 x 65W Aqualight, skimmer, and 2x HOB filters It has approx 35lbs live rock, clownfish, 1 black & white saddleback clownfish, asst'd mushrooms, asst'd zoas, gsp, turbo and other snails, blue legged, halloween and other hermit crabs, tuxedo urchin 10g FW tank with... Current occupants are cardinal tetras and ameca splendons
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#4
03-06-2008, 05:34 AM
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It is an excellent addition to putting your money into retirement vehicles such as RRSPs, I plan on continuing to put 15% into my RRSPs and maxing the $5000 per year because of the obvious tax free benefits when withdrawing, and that it can be withdrawn and replaced back in the account without a penalty.
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#5
03-06-2008, 05:59 AM
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good news
I have urged many friends not to get RRSP's and instead invest in something where they pay taxes now.It may help in the short run to buy RRSP's but what if you ever need a lump sum for home repairs and end up oweing thousands in taxes.which will be much higher than you'll be saving for tax time.JMO but this is great news.Clint
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#6
03-06-2008, 09:56 AM
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Quote:
who wants to lock the money away in today's $ buying power and get it 20 years later with less buying power and pay tax on it? Defeats the purpose imo Better use the money today, (Wisely) pay off the debt for example.
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#7
03-06-2008, 02:05 PM
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Now here is hoping that some companies, like ING who specialize in high interest savings account, jumps on this wagon. I would love to get the same interest rate I get now plus get all these benefits.
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#8
03-06-2008, 03:10 PM
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Quote:
You might want to do some more research on RRSP's. There's a lot of misconceptions about RRSP's, in general, as a tax sheltering vehicle. More to the point, RRSP's offered by MOST banks are a ripoff. However, they are not the only RRSP's out there. Many RRSP's have great value and outrace interested by a long shot.
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This and that.
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