RRSPs: The Ultimate Wealth Builder

RRSPs: The Ultimate Wealth Builder

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For most Canadians, an RRSP is the only personal pension plan they will ever have. As employer-sponsored plans become increasingly rare outside the public sector, we must rely on our own savings and money management skills to ensure a comfortable lifestyle after retirement.
This comprehensive guide by bestselling financial author Gordon Pape provides the secrets to building a winning RRSP—everything from setting up the right kind of plan at the outset to proven strategies that will enable you to grow your RRSP over time to a value of several hundred thousand dollars. And all the while, you’ll be collecting sizeable tax refunds for every contribution you make.
This is a must-read book for everyone who cares about providing a comfortable future for themselves and their families. Some of the key things you’ll learn include:
• How to choose a plan that’s right for your needs
• Tips for selecting the best investments
• The most common mistakes and how to avoid them
• Little-known strategies
• How to build successful portfolios
• Deciding between an RRSP and a TFSA
• When to use the Home Buyers’ Plan
• Transitioning to an RRIF
ASIN ‏ : ‎ B00HQKVE4S
Publisher ‏ : ‎ Portfolio (Jan. 7 2014)
Language ‏ : ‎ English
File size ‏ : ‎ 556 KB
Text-to-Speech ‏ : ‎ Enabled
Screen Reader ‏ : ‎ Supported
Enhanced typesetting ‏ : ‎ Enabled
X-Ray ‏ : ‎ Not Enabled
Word Wise ‏ : ‎ Enabled
Print length ‏ : ‎ 262 pages
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4 reviews for RRSPs: The Ultimate Wealth Builder

  1. Darayus –

    Five Stars
    Good to understand this book.

  2. Robert Grist –

    False confidence about RRIF
    I gained important information, as well as misinformation in the chapter and sections referring to Rrif.Mr Pape published that the taxation rate of Rrif withdrawals can be arranged between the client and advisor.This is simply not the case for my self-directed plan,as I found that CRA treats systematic withdrawals as though they are a lump sum withdrawal. If you don’t like it, too bad. $1-5000, 10%; $5001-15000, 20% more than $15000, 30% Not a nice surprise thatA cumulative withdrawal over $15000, or $1025 a month, was subjected to 30 % withholding tax

  3. Amazon Customer –

    Five Stars
    All good. No problems.

  4. D. Peter Humphrys –

    If you wish to be a lamb lead to the slaughter this book is for you
    This is a book of mainstream retirement planning advice for the average person. There are some okay points that he makes but I have some major disagreements with the so called mainstream advice.For example, if you wanted to engage in very high risk investing, he advises not to do it in a RRSP because its your retirement plan. Okay but to me an RRSP should first and foremost be a tax reduction plan and if you are going for risky investments why do it with after tax dollars? Doesn’t make sense to me. if your top marginal tax rate is 33.3% (modest) you would have 3,000 to invest with instead of 2, 000 of after tax dollars. Pay the paltry tax on your GIC gains and have more to go nuts with in risky investments inside a self directed RRSP.One can learn from this book, but I just found myself saying, now wait a minute here a bit too often. I felt like someone was trying to pull a fast on me at times. His warning s about scams are useful. but one should never really be too trusting of anyone, when offering big returns for essentially nothing. As always Caveat Emptor.

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