im lookin around and i see tops of 4%. is that even worth it over the next 30 years?

4%?

No way... not worth it.

You'll just need to give all your cash to me and I'll take care of it for ya. [img]graemlins/deal4u.gif[/img]

Yuli what bank is offering 4%??

RRSPs are sucking..mine aren't doing good.

its the 50% you get back at tax time that you want. so really its about a 54% if you reinvest it no?

I haven't even started my retiremant yet, to busy blowing it all.

I'll be at 6% in 2 years.

Is it not worthwhhile for me to max out my RRSP's? If Started when I'm 19 and tried to max out every year until im like, 30, i should be in good shape.

I didn't start buying RRSP's till two years ago, I have yet to max out my contributions. It's cool to save money for the future, but not at the expense of today.

I figure I should do it now while I don't have kids or anything. The car isn't always the best place to invest.

If possible, invest in your RRSP's. Without even considering what you invest the money inside your RRSP in, you are saving tax dollars at your effective tax rate. In Alberta, that is about 39%. Generally speaking, that is the highest return you are going to ever get.

As for your investment vehicle, I would personally want at a minimum, a return that matches inflation. Otherwise your money is not truly growing.

If you are only earning 4%, consider opening a discount brokerage account and purchasing high quality bonds. These will often yield better than 4%. One caution, with interest rates rising, bond prices go down. So you may have a loss on the principal of the bond if you happen to sell it before its maturity. Personally, I invest in equity based mutual funds because they traditionally yield the highest returns. But, not everyone likes the uncertainty of the equity markets.

This topic can get really lengthy so I will just stop now.

Happy investing,

Keenan