In an interview with Gary Marr from the Financial Post yesterday, we discussed the RRSP dilemma – debt or money for retirement? For many people, paying down debt comes first. But for some, with lines of credit at barely 2.5%, they don’t realize they could take that money and even at a low-risk investment of 3% or 4%, basically double it.
For many people who have mortages with rates below 3%, it’s important to discuss other investing options. With my clients, we always work on deciding how they can have enough money / cash flow to put away money for a long-term investments.