Weekend Reading – Maxed out TFSA, RRSP; mental accounting, dividend raises and more #moneystuff
Welcome to my latest Weekend Reading edition where I share some of my favourite articles from the week that was across the personal finance and investing blogosphere.
I got around to posting these articles this week:
This was our latest dividend income update – April 2019. We’re on pace to earn….you’ll have to read the post to find out!
What are the best ETFs for your RRSP? Again, read on to find out!
Spring has finally sprung in Ottawa. It’s going to be a sunny, 13 degrees C, and a great day to be outdoors. I can’t wait to do that.
Best wishes for the weekend and see you here next week!
Mark
Other articles:
My dividend investor inspiration, MDJ wrote about how to manage your money when your RRSP and TFSA are maxed out. Geez, a great problem to have!
This means we treat savings for investment purposes to our TFSAs and RRSPs as bill payments – this is absolutely a better way to budget. We never see the money. We only spend what is leftover.
Here are 8 U.S. dividend achievers ready to shower shareholders with income.
All my best!
Mark
Maxed out RRSP and TFSA – Now What?
The article goes about the question backwards. The first question should be Is one out of debt or is the current debt less than one might earn by investing elsewhere.
I think one should eliminate all high interest debt before investing in another source.
Once you have your debt under control and say only the mortgage of 3% to 5%, then one should max out the TFSA, RESP, then RRSP and finally consider whether they have extra funds to either pay down the mortgage or invest in non-reg.
The writer suggest ETF’s where I prefer individual DG stocks, but each to their own.
I would not presume to give others financial advice but I would consider possibly putting an RESP on a higher priority over some things due to government grants and a normally limited life span of those things.
Well, from the place MDJ sits I recall his mortgage is long since paid off but I hear what you are saying. If TFSA + RRSP (and even RESP for kids) maxed out then if definitely makes sense to kill of debt. I hear life really begins when are you debt-free 🙂