RRSP

Well, this time of the year has came and it is the last day to contribute to RRSP. With lack of too much money and down market trends, I am lost in terms of investment. I see all stock tickers in the down trend also. This usually is a good time to buy as the fundamentals are still intact and these prices are bargain. But what I'm concerned is that I don't see the bottom yet. I think the bottom is near but not quite....

After having a quick discussion with Billy over the phone, he recommended BMO Monthly Income fund. I have to say that it is a safer option compared to all stocks I'm keeping my eyes open.

It's kinda too late but what's your RRSP plan for this year?

On the same topic of investment, starting 2009, Canadian will have an option of investing up to $5,000 annually into this new Tax-Free Savings Account. Apparently this is just like RRSP account except it is not for your registered retirement fund. For those who actually has money to invest outside RRSP, this will a good news as you don't have to pay tax on the profit on each and every transactions. Only time you pay tax is when you withdraw from this account.