Double up mortgage payments OR maximize RRSP?
My wife and I are in a situation where we have enough extra funds to either double up our mortgage payment or maximize our RRSP contribution (approx $30,000). I make approx $130,000 per year and the wife makes approx $70,000 per year. Or mortgage is approx $444,000 (@2.5% floating). Other than our mortgage we are debt free. I was thinking of maximizing my RRSP contribution then using the tax return to pay down the mortgage. Any advice would be much appreciated. TIA, Curt