RESP AND RRSP advice's !
I'm a new comer, almost 3.5 years in Canada now. I'm have $50,000 CAD in my chequing account and $40,000 CAD in my home country (earned from there). I own a home in Durham region, my first mortgage renewal is coming in 2020, $360,000 balance in my mortgage now. I earn closely 105,000 CAD and my wife brings in $30,000 CAD in part time. We didn't start any RRSP's and RESP's yet because none of the financial advisor's are guiding us properly. I have more than $40,000 RESP room.
Should i invest in RESP and RRSP's ?
or should I go for a second home and rent it out (keep in mind about his crazy market) ?
Finish our mortgage ASAP ?
Kindly advice.
Note: I have two kids (4.5 year's and 2.5 year's old).
Should i invest in RESP and RRSP's ?
or should I go for a second home and rent it out (keep in mind about his crazy market) ?
Finish our mortgage ASAP ?
Kindly advice.
Note: I have two kids (4.5 year's and 2.5 year's old).
Last edited by Guest9283837 on Aug 8th, 2018 2:44 pm, edited 1 time in total.
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