Self-Directed RRSP

What is a self-directed rrsp?

A self-directed rrsp is an rrsp that you set up for yourself and then buy and sell securities and real estate mortgages on your own in the hopes of doing better then what a broker can do for you. If you have ever done any trading with your own money outside of your rrsp, then with a self directed rrsp you can do the same but now the money stays within the rrsp. Of course you need to invest in securities that fall into the guidelines set out for self directed rrsp’s. And the best place to get this information is through a rrsp trustee that you currently are using for your rrsp investments.

When talking to the person that you have your rrsp’s set up with it is not always in your best interest to tell the broker what you are doing. Unless that person can have a self directed rrsp set up for you. Such as a bank. The reason you do not want to tell your broker what you are doing is simply that they will lose money from you once you pull out your rrsp from them. Would you like a higher rrsp rate of return then check best RRSP Investment. Would you like to invest in real estate with your rrsp, then check out rrsp mortgages.