Ok so I emailed my bank last night asking when the loan was due to be finished. I had 'thought' it was September of 2010, but I was off by six months. The email reply came in this morning that it matures in March of 2011. bummer
First I have to give kudos to BMO for incredibly fast customer service, and on a national holiday too! Very impressive.
This means it is a long ways off til loan #1 is done and I can begin double payments on my vehicle loan. A bid disappointment to say the least. sigh.
I was waffling on what to do with snowflakes. I had originally promised myself that I would put it all down on the loan, but even aggressively, that loan is a long ways from being down.
The past few days my RRSP goal (first RRSPs ever!) has been waffling in my mind. I want to put $1500 into RRSP and gather that money before Dec 31st, 2009. I have not put any in to date.
I am leaning towards putting all snowflake etc towards the RRSP to get that goal out of the way as fast as possible. Then I could put down my snowflakes on the loan without feeling guilty that yet again, I failed to put anything towards RRSPs. I really really want to meet that goal.
Hmm. I wonder how fast I can snowflake $1500?
Not Much Working Out Monday
2 hours ago
3 comments:
don't forget to check what is your maximum rrsp contribution and deduction limits (which would include any pension fund you're putting into at work) or else you'll be dinged with taxes at the end of the fiscal year.
thank you. this is all new to me so that is good to check.
oh. i also forgot to mention... if you're buying a RRSP GIC, buying a lump sum is a good idea.
But if you are aiming for RRSP mutual funds, depending on what portfolio you're getting, it might be better for you to buy your RRSPs slowly every week, bi-week or month as it'll fluctuate with the market.
check with your bank & good luck! :)
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