RRSP and Investing help/ideas
I need some help as I am not very investment savvy. I am in my late 30's. My annual work income is around $105000. I do not own any property as of yet and rent an apartment with my wife. We have no children yet. My wife makes very little approx $13000 for 2017 and will be going back to school.
The following are my investments.
$60000 TFSA Manulife Ideal Segregated funds Signature 2.0 through a financial advisor (annual contribution to maxxed out)
$41000 Tangerine Equity Growth Portfolio (weekly contributions of $100)
$39000 Tangerine Ballanced Growth Portfolio (weekly contributions of $100)
$15000 Tangerine Dividend Portfolio (weekly contributions of $100)
$6000 Company stocks ($1200 per year contribution)
$28000 Lending Loop (re investing all money made back into it)
$120000 Savings Account ( 2.5 to 3% alternating between Tangerine and Simplii)
$90000 Company/Union Retirement fund through CI Institutional (CI Lifecycle 2045 fund) (mandatory 7.5% of salary contribution matched by company for a total of 15% per year). This is a "defined contribution pension plan, also known as a money purchase plan"
I have been looking at contributing to an RRSP to lower my tax bracket since I have a good amount of cash parked in a regular savings account that I dont need in the near future. I am still at odds if I should and if it would be benificial for me to do so. If I did, how much should I invest to lower my tax bracket? What kind of funds should I invest it in? With the markets so high right now is it worth contributing so much cash at once for a fund?
These are just some of the questions I have on my mind right now. Any wisdom, advice, ideas, experience would be greatly appreciated.
Thanks for reading.