Comments on: Pay Mortgage or Maximize RRSP?-The Great Debate

By: Mortgage vs. RRSP – What Makes the Most Sense? | GetSmarterAboutMoney.ca

Mortgage vs. RRSP – What Makes the Most Sense? | GetSmarterAboutMoney.ca — Wed, 23 Nov 2011 23:27:46 +0000

[...] to your RRSP early and often – and taking advantage of the compounding interest that this strategy allows may be a good idea for those more interested in saving for retirement. However, the trade-off comes [...]

By: R Stanger

R Stanger — Mon, 09 Aug 2010 11:34:19 +0000

we left canada in 1992 and became U.S. Citizens. We left app $300k in RRSP’s, we would like to pay our mortgage off here in Florida as the RRSP’s are losing $. we still have $300k in U.S. 401′s + app $2m in clear and free property, I am 62

By: David

David — Wed, 28 Jul 2010 22:04:54 +0000

Paying off your mortgage is the same as investing in retirement. When you retire you wont have to worry about paying $1,000 or $12,000 a year for your mortgage. When your mortgage is paid off you only have to pay $0 per year.

By: 8 Financial Goals for Your 30s

8 Financial Goals for Your 30s — Tue, 09 Mar 2010 11:34:27 +0000

[...] 1. Pay off non-mortgage debt: It’s best if you have already paid off your credit cards. But if you haven’t, now is the time to tackle what remains of youthful indulgences with plastic. (And get out of the debt cycle once and for all.) Once that is done, your early 30s should be devoted to getting rid of auto loans, student loans and other debt that isn’t mortgage related. When your non-mortgage debt is paid off, you can start thinking of paying down your mortgage. [...]

By: Get Your Free Credit Report Now. » Blog Archive » Should I Invest or Pay Down Debt – How to Decide

Thu, 24 Sep 2009 19:57:14 +0000

[...] many factors such as your debt type, interest rate, risk tolerance and your attitude towards debt. Paying mortgage vs. saving for retirement is an ongoing debate I don’t see an end to it anytime soon. The most common advice is to pay off [...]

By: Should I Invest or Pay Down Debt – How to Decide | Financial Highway

Should I Invest or Pay Down Debt – How to Decide | Financial Highway — Thu, 24 Sep 2009 10:03:36 +0000

By: Ray

Ray — Tue, 17 Mar 2009 17:00:26 +0000

That’s actually a really good point

thanks for the link!

By: CanadianFinance

CanadianFinance — Tue, 17 Mar 2009 16:03:24 +0000

You could add a slight twist to option 3 that could beat all of them…

Instead of a tax refund, get the amount you pay in taxes reduced. Then you could increase you mortgage payment by the amount of newly available money from your paycheque.

You are still basically paying extra off your mortgage with your tax refund, but you could do it throughout the year and reduce the principle earlier.

I wrote about getting your refund immediately with your pay here:
http://canadianfinanceblog.com/2009/02/23/tax-refunds-are-a-bad-thing.htm