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Thread: RRSP or TFSA. Where to put more $$

  1. #41
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    If I had a public sector pension I wouldn't invest anything else. Assuming it was DB.

    personally, I am contributing to my dc pension only enough to max out my company match. The rest is going into my tfsa until its maxed out, then eventually Ill start contributing to my rrsp.
    Quote Originally Posted by Gestalt View Post
    Im the one with a learning disability....

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    Quote Originally Posted by dirtsniffer View Post
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    If I had a public sector pension I wouldn't invest anything else. Assuming it was DB.
    Seems risky, since you could get laid off long before your pension was maxed out, and be left with a pittance. I think investing somewhere makes sense, guess TFSA probably better than RRSP for tax at withdrawal time?
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    I’m public sector and will continue to do tfsa, and have skipped all rrsp till I have enough money when the wife is working full time again. Until the tfsa is maxed I guess, then I have to re-evaluate.

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    Makes sense. And I should answer the confusion of the two members who PM'ed me. No, I don't have a pension, this is for a relative who asked my advice.
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    Quote Originally Posted by ExtraSlow View Post
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    Seems risky, since you could get laid off long before your pension was maxed out, and be left with a pittance. I think investing somewhere makes sense, guess TFSA probably better than RRSP for tax at withdrawal time?
    Public sector employees can be laid off?
    Quote Originally Posted by Gestalt View Post
    Im the one with a learning disability....

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    Not only that, but the control of the pension can change. It's completely out of the hands of the individual. With a TFSA or RRSP at least you are in control of where that money is going.

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    Quote Originally Posted by dirtsniffer View Post
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    Public sector employees can be laid off?
    I've heard it can happen when governments cut spending. Maybe that's fake news? I can't even tell anymore.
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    https://www.cbc.ca/news/canada/calga...2020-1.5540629

    There's another more indepth globe and mail article, but it's behind a paywall.
    Alberta pensions making bad bets and losing tons of money on behalf of their pensioners. I'd suggest doing RRSP and TFSA even if you have a pension for exactly reasons like this. At least you know who to blame when you lose money.

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    Quote Originally Posted by JustinL View Post
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    https://www.cbc.ca/news/canada/calga...2020-1.5540629

    There's another more indepth globe and mail article, but it's behind a paywall.
    Alberta pensions making bad bets and losing tons of money on behalf of their pensioners. I'd suggest doing RRSP and TFSA even if you have a pension for exactly reasons like this. At least you know who to blame when you lose money.
    Portfolio of about $119 billion lost $4 billion during this market is not significant IMO. If my percentage loss in my personal portfolio was that much I wouldn't be too concerned.

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    Quote Originally Posted by roopi View Post
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    Portfolio of about $119 billion lost $4 billion during this market is not significant IMO. If my percentage loss in my personal portfolio was that much I wouldn't be too concerned.
    3% drop in this mess? I'd GLADLY take that right now!
    "Masked Bandit is a gateway drug for frugal spending." - Unknown303

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    HISA never looked so good.
    Cash is king.

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    Quote Originally Posted by Masked Bandit View Post
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    3% drop in this mess? I'd GLADLY take that right now!
    From the globe and mail article.
    AIMCo’s hit on volatility-based investment strategies came on top of a sharp drop in the value of its traditional equity, bond and real estate investments in March, when virtually every investor lost money. The average Canadian pension plan lost 8.7 per cent of its value in the first three months of this year, according to consulting firm Mercer. When it formally reports quarterly results to clients later this month, AIMCo is expected to be down far more than this.

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    Quote Originally Posted by Masked Bandit View Post
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    3% drop in this mess? I'd GLADLY take that right now!
    Ya similar to last post, let’s compare apples to apples here... considering Kenney wants all of CPP to fall under AIMCO, I’d prefer not..

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    Holy fucking shit balls. Guys. Guys, GUYS!!! That's all irrelevant to every option and topic in the OP.
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    We try to max out our TFSA with the previous years tax return, best of both worlds?

    Isn't the other drawback to maxing out RSP's in the early-mid point of your career, other than the obvious assumption that you haven't reached your maximum earnings yet, is who knows what the tax rate will be when it comes time to withdraw from your RSP's at retirement? If Mr. Budgets-Balance-Themselves continues to make it rain with our money the tax rate could be 75% in 30 years

    Quote Originally Posted by dirtsniffer View Post
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    If I had a public sector pension I wouldn't invest anything else. Assuming it was DB.
    What about a Private Sector DB Pension?

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    Private sector DB pension is anything but guaranteed. It could theoretically disappear overnight.

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    Reading this thread like:

    “Man I wish I had enough gains to worry about taxes”
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.

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    Quote Originally Posted by cjblair View Post
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    Private sector DB pension is anything but guaranteed. It could theoretically disappear overnight.
    see: Sears

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    Quote Originally Posted by sabad66 View Post
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    see: Sears
    How about Enron

    I'm sure there are dozens of examples of this.

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    Quote Originally Posted by cjblair View Post
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    How about Enron

    I'm sure there are dozens of examples of this.
    Probably the best example was Nortel. Lots of people had to come out of retirement and work shitty jobs when they went belly up and took the pension down along with them. It took almost ten years for people to get 50 cent on the dollar of their pensions remnants... Counting a pension is very very risky. Doesn't matter if it's government or not. There's plenty of examples out there of catastrophic failures of government pensions.

    https://business.financialpost.com/p...nt-a-guarantee

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