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Experts Questions and Answers


Marci Perreault
Certified Financial Planner & Insurance Broker
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We are a young couple with a mortgage, In your option is it better to put money in our RSP's or pay down our mortgage. Thanks

Posted by to Marci Perreault  ::  Views (2619)

That is a very good question and one that a lot of people ask.  However, I cannot give you a cut and dry answer.  There are many variables that come into play.  I would have to look at any other debt that you may have, interest rates, balance of mortgage, cash flow, just to name a few.  Every situation is unique.  All aspects must be considered to ensure one's goals are met.  For example, some people psychologically just want their home paid off for piece of mind.  While others would rather put additional income toward investments that may offer higher returns, especially when mortgage rates are at an all time low.  

Sorry I am not able to give you a concrete reply.  I would be happy to sit down with you to discuss this further.