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Best RRSP Investment
What is the best rrsp investment? First before we get into that, do you max out your rrsp each year? If not then your best rrsp investment might be getting a rrsp loan from the bank, then when you get your tax return back you can pay off most if not all the rrsp loan. In doing this even if you were only getting 6% per year from your rrsp this would be your best rrsp investment. Simply because your rrsp would grow much faster if you have more in it each year. For example you make $40K per year and only put $4K per year into your rrsp, by increasing that to $7,200 per year you are almost doubling your rrsp each year from the extra contribution.
Then from that point look for the best rrsp investment. I know of a few that can have good returns and are secured by land. Is land safe? It is by my definition, but you may want to go by your own knowledge of land and other real estate investments. But over the long term this has always been a safe investment for both inside and outside your rrsp. One company that buys real estate using people’s rrsp money for mortgages is Kelly’s real estate. And another company that has had a great track record for investing your rrsp in land is a private company, if you would like to get a package of how you can get nice returns by a land company that has averaged 23% per year over 28 years then check out __________.
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