You will hear alot of individuals using the term RRSP (Registered Retirement Savings Plan) and mutual fund in two separate aspects. In reality, all an RRSP is, is a savings or investment account that has tax deductible perks. With whatever source you open up your RRSP with, whether it be with a bank, credit union, or other financial institution, they can offer investment packages that include mutual funds, ETF’s (exchange traded funds) etc. But you are not limited to this, you can open up your RRSP and choose the investment you would like to fill it with. Anything you feel is necessary such as gold, cash, Canadian and foreign equities, bonds, income trusts, a mortgage, and more.

You are also free to open up more than one RRSP account at a different financial institution, but beware of this as it can be hard to keep up with all of them with the investments attached.

Contact Robert Clancy today to learn how your RRSP needs can fit in with your mortgage needs!