Pay Mortgage or Maximize RRSP?
The Mortgage vs RRSP has been a continuous debate in Canada when it comes to financial planning. Payment I am contributing to my RRSP or Mortgage? And what about TFSA? Unlike the US, in Canada the interest on mortgage is not tax deductible, so we take this decision somewhat difficult.
There really isn’t a right answer, it all depends on your situation and comfort level, but let’s take a look at the pro’s and con’s of couple of cases. We will leave TFSA out of this
