This is a question I receive from my clients quite often “Should I use my extra funds to pay down my mortgage or put the funds towards an RSP?”. Many times it may make sense to make the RSP contribution, wait for the tax refund and then place the refund onto the principal of the mortgage as a prepayment. However, it all depends as they say…especially in this market when returns on lower risk investments are historically low. Nowadays it makes much more sense to execute this strategy if your ready to dip your toes in the stock market and take on more risk with investments as outlined by the esteemed Moshe A. Milevsky.
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Kim Gibbons, ” Your Mortgage Superhero ®”
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