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Hi all,
Just a warning,..I am very green when it comes to investing my money. I have read some articles on here and will read more as I am very interested in personal finance.
So anyways,..I signed a letter at work a while back confirming that it is ok for my company to take $100 off each paycheck so come tax time I could write off two trips with a minimum of $600 per trip and a maximum of $2400. I am in Canada, so this might be new to whoever is reading this.
Others that I work with have stated that by putting the extra $100 into an RSP, they end up receiving more at tax time then by using the trips deal.
So, do you professional investors believe putting the extra money(that I will not miss) into an RSP be the best overall thing to do or is there another better way of investing it? I am a 26 year old male without a penny invested in retirement, stocks or whatever.
Thanks in advance to all of your input,
Trevor
Just a warning,..I am very green when it comes to investing my money. I have read some articles on here and will read more as I am very interested in personal finance.
So anyways,..I signed a letter at work a while back confirming that it is ok for my company to take $100 off each paycheck so come tax time I could write off two trips with a minimum of $600 per trip and a maximum of $2400. I am in Canada, so this might be new to whoever is reading this.
Others that I work with have stated that by putting the extra $100 into an RSP, they end up receiving more at tax time then by using the trips deal.
So, do you professional investors believe putting the extra money(that I will not miss) into an RSP be the best overall thing to do or is there another better way of investing it? I am a 26 year old male without a penny invested in retirement, stocks or whatever.
Thanks in advance to all of your input,
Trevor