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The next step...

May 2nd, 2007 at 07:22 pm

I've gotten over the first hurdle - debt management.

Now that my debt is down to zero and we have been making a conscious effort to spend more "responsibly" in all areas of our lives, we're ready for the NEXT STEP.

That next step would be putting money into an RRSP. Any Canadians on the blogs that have any advice for a really green investor? Does anybody have any experience with AltaMira in particular? We're definitely looking at low risk with a monthly contribution of $200 a month.

Hubby is not a first time home owner, and I know that first timers can take portions out of their RRSPs without huge penalties. I wonder if this would still apply to me as I have never owned a home? I guess this will all come out when I go for my assessment/interview with a professional. But is it common for younger people to invest in things other than an RRSP, as in a "house fund" that makes my money more accessible?

3 Responses to “The next step...”

  1. robex Says:

    We have RRSPs and invest with Investors Group. We used to buy RRSP mutual funds through the bank, but much prefer the personalized treatment we now get.

    We never used our RRSPs as a down payment so, although I know people who have done so, I'm not entirely sure how it works.

    Good luck with whatever you do!

  2. pesli Says:

    Understand that you are starting to invest. Would like to recommend you the Parcus software which helps you valuate stocks and analyses the return value of real estates. Check it out at www.parcusgroup.com/index.html

    Good luck!

  3. Amber Says:

    Way to go on becoming debt free Smile and good luck with the house and with your investents

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