Publications


Paying down an income property with RRSPs

by Dean Kendall
August 8th, 2017

Paying Down an Income Property with RRSPs

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Q: My husband and I are teachers and we will be retired and collecting pensions in approximately 8 – 10 years. We have been mortgage-free since 2008, have RSPs, some TFSAs and we are approaching maximum contributions allowed in our children’s RESPs.

In 2015, we purchased an investment property. I’m wondering whether it would be wise to cash in our RSPs and use the after-tax amounts to...

Tags: income, property, rrsp



Do we need spousal RRSPs if our salaries are the same?

by Dean Kendall
July 24th, 2017

Do we need spousal RRSPs if our salaries are the same?

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Q: I have a question about whether my wife and I should consider using a spousal RRSP. I’m 32, self-employed, paying myself an $80,000 annual salary and have a personal RRSP of around $160,000. My wife is also 32 and she’s employed with a company that provides a defined benefit pension. She is making around $70,000 per year and has a personal RRSP of $60,000.

Considering our employment status and how our salary levels don’t differ too much...

Tags: spousal, rrsp, income

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