Investment Options For Larger Mortgage
Our investment options:
- Maxing out our TFSA and RRSP
- Taking a second mortgage to purchase a rental property
- ?? (Additional ideas are welcome)
- We (wife and I) are in our early 30s
- We each make $90,000 annually before tax
- We have been approved for $800,000 mortgage
- We need to borrow $400,000 to purchase our home
- My remaining contribution room: TFSA=$60,000, RRSP=$80,000
- Her remaining contribution room: TFSA=$40,000, RRSP=$5000
- Do we have any additional investment options?
- Are there any negative effects when I max out my RRSP of $80,000 when my annual salary before tax is $90,000?