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Catch 22 Mortgage vs. RRSP

Tchavdar Elenkov, BA Econ, CFP Insurance and Financial Advisor. Catch 22 Mortgage vs. RRSP. What should you do?. Pay down your mortgage – be debt free sooner OR. Contribute to your RRSP – enjoy tax-deferred growth. Introducing the Flexible Mortgage. F L E X I B L E M O R T G A G E.

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Catch 22 Mortgage vs. RRSP

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  1. Tchavdar Elenkov, BA Econ, CFP Insurance and Financial Advisor Catch 22Mortgage vs. RRSP

  2. What should you do? • Pay down your mortgage – be debt free sooner • OR • Contribute to your RRSP – enjoy tax-deferred growth

  3. Introducing the Flexible Mortgage

  4. F L E X I B L E M O R T G A G E You really can do both • Introducing “flexible mortgage accounts” • Pay down your mortgage AND contribute to your RRSP

  5. F L E X I B L E M O R T G A G E How it works • Rolls your chequing account into your mortgage • Have your money pay down your mortgage

  6. F L E X I B L E M O R T G A G E ADD your debts to your mortgage • Next, take any other debts you may have and add them to your mortgage

  7. F L E X I B L E M O R T G A G E ADD any idle savings to the account • Save “more” interest by reducing your mortgage • Accessibility to your money

  8. F L E X I B L E M O R T G A G E What about contributing to your RRSP? • You can now free up cash – sometimes hundreds of dollars per month

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