🚀 go-pugleaf

RRSPs are now defunct tax traps.

Imagine if you had $100,000 in capital gains in a RRSP and cash account 
over a 30 year period and 300% inflation.

Withdraw from RRSP is 100% taxable at the full punishing rates.  And 
what you deferred going in will be a lot less than you will will pay 
going out.

Withdraw from cash investment account it is 50% gains taxable for the 
equivalent of $50K taxable.  Much lower tax rate and can be spread out 
over decades to avoid tax bumps.

TFSA is best as it comes without inflation gains taxes.  Everyone should 
have one.

Reality is RRSPs are subtle tax traps.  Think you will get a lower rate 
on the way out?  Dream on, CPP/OAS and other income will eat up your low 
tax rate income room meaning RRSP/LIF/RIF come out at the same or higher 
rates and tax table inflation creep even works against you.

Gov'mint (governments and banks) love RRSPs because they get more taxes, 
give you less flexibility and help their bottom lines and not yours.

Even in death you loss as all the unused RRSP is instantly fully taxable 
at 100% top rates.  No dividend or gains deductions, just the full 
punishing rate.

Help dispel the myths of RRSPs.  They are tax traps.  TFSAs are best, 
cash investing second.

You know you are getting bad advice if they say do a RRSP.  Advisors 
like these are bankers puppets.

Pass it on, after taxes and inflation, RRSPs are losers.

I am not innocent, I have a hefty RRSP/LIRA, but now I have the time to 
do the math, I realize the error.  RRSPs are tax traps.  Pass it on, 
RRSPs are no longer good with such low returns and inflation creep.

-- 
Liberal-socialism is a great idea so long as the credit is good and 
other people pay for it.  When the credit runs out and those that pay 
for it leave, they can all share having nothing but debt and discontentment.