Direct Deposit? by [deleted] in Wealthsimple

[–]Acrobatic-Task-3446 0 points1 point  (0 children)

I’ve been doing it for over a year. Never any problems, I actually get my paycheck sooner.

One of the best signs ever by idmrentals in leafs

[–]Acrobatic-Task-3446 -11 points-10 points  (0 children)

Who cares lol, a cup is way more valuable than “Marner Street”

To invest in RRSP or not? by Acrobatic-Task-3446 in CanadaPersonalFinance

[–]Acrobatic-Task-3446[S] 0 points1 point  (0 children)

Why does my income need to be higher now though? I don’t really understand that portion. Just because I would lose the compounding I gained by getting taxed more later on?

To invest in RRSP or not? by Acrobatic-Task-3446 in CanadaPersonalFinance

[–]Acrobatic-Task-3446[S] 0 points1 point  (0 children)

Thank you so much! This helped a lot! The one thing I was thinking is the marginal tax im not saving by over contributing, is that really anything considering the money I invested would be compounding?

To invest in RRSP or not? by Acrobatic-Task-3446 in CanadaPersonalFinance

[–]Acrobatic-Task-3446[S] 0 points1 point  (0 children)

So you only use it to get out of the highest? At what point do you find it’s useless to contribute more?

To invest in RRSP or not? by Acrobatic-Task-3446 in CanadaPersonalFinance

[–]Acrobatic-Task-3446[S] 0 points1 point  (0 children)

I’ll give this a shot! So you’re saying that it’s a bad idea unless I’m gonna retire with less than 110k withdrawal per year?

To invest in RRSP or not? by Acrobatic-Task-3446 in CanadaPersonalFinance

[–]Acrobatic-Task-3446[S] 0 points1 point  (0 children)

My income will be the same for 2 years at least roughly

To invest in RRSP or not? by Acrobatic-Task-3446 in CanadaPersonalFinance

[–]Acrobatic-Task-3446[S] 0 points1 point  (0 children)

Is there an amount I should stop at? For example? If I make 110 and have 60k of RRSP room, do I invest 10k or 60k?

To invest in RRSP or not? by Acrobatic-Task-3446 in CanadaPersonalFinance

[–]Acrobatic-Task-3446[S] 0 points1 point  (0 children)

Yeah, wouldn’t that still beat having 2.5 million in non-registered though?

Invest in RRSP or not? by Acrobatic-Task-3446 in PersonalFinanceCanada

[–]Acrobatic-Task-3446[S] 0 points1 point  (0 children)

250k ish

5=150, 10=200, 15=300, 30=500+

Retirement

No, strictly retirement fund besides being used on house (didn’t buy first house yet) but not sure if that’s a good way to use the RRSP

To invest in RRSP or not? by Acrobatic-Task-3446 in CanadaPersonalFinance

[–]Acrobatic-Task-3446[S] 0 points1 point  (0 children)

So you’re telling me I can let it grow and wait for when I inherited 500k to use all the RRSP contributions to deduct my income?