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Posts: 7710
 Posted: Mon Sep 29, 2008 6:28 pm
How has the TSX dive hurt your RRSP's?
60% devaluation in Canada.
Alberta oil industry will grind to halt, and those mortages people took out..
Time to buy, buy, buy!!!!!
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Posts: 596
Posted: Mon Sep 29, 2008 6:32 pm
I'm down about 5% and considering what's goig on, I'm pretty damn happy right now.
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Posts: 2371
Posted: Mon Sep 29, 2008 6:33 pm
My mutual funds have gone down a little bit, but it hasn't been too significant... yet.
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Posts: 7710
Posted: Mon Sep 29, 2008 6:36 pm
Well today TSX down 800 points, and tommorrow. God!! Don't sell. If everyone runs, then we have a problem.
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Posts: 596
Posted: Mon Sep 29, 2008 6:36 pm
Great time to buy!!
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Posts: 7710
Posted: Mon Sep 29, 2008 6:41 pm
Apollo Apollo: Great time to buy!! If you have the extra cash, but for those who work for a living and have put their saving into RRSP's and Mutual funds... not a great day, and most are on their seat waiting till tommorrow.
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Posts: 596
Posted: Mon Sep 29, 2008 6:50 pm
If you have a diversified portfolio of bonds and equity, you could sell your bonds and still participate in buying low.
See, you can still buy even if you don't have extra cash. If you're not diversified, you should ditch your advisor for someone who knows what they're doing.
A good CFP is worth his weight in gold.
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Posts: 2928
Posted: Mon Sep 29, 2008 7:05 pm
I had shorted Canada a while back but took profits a month ago. Too bad.
I own a few small stocks but otherwise, I own nothing in Canada. Canadian stocks will fair much worse if this continues.
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Posts: 4247
Posted: Mon Sep 29, 2008 7:13 pm
I think I'm going to let it things shake out here for next day or so then go in with some extra cash I have on Wednesday. I'm hoping the bail out will go ahead on Thursday in which case I should be able to get in when it's at its lowest right before the up swing. Oh, on the existing RRSP's I'm not in to bad of shape but have seen some loses but more so because the markets have fallen over the last 9 months than this last go around. My investments are in good shape, some loses but nothing that I don't think I will be to recover. Didn't think I would get hit as hard on my blue chip stuff as I did though, normally that stuff is pretty safe but again it'll come back. Be patient, what goes down must come up eventually. 
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Posted: Mon Sep 29, 2008 8:41 pm
I don't have a lot of investment in RRSPs. About 10K
After 30 years of working, I have about 70K in equity in my house.
That is about the only safe place to put your money really. A place to live will always be worth something, where as, my investments in life science and technology are now worth about 10% of what I paid for them.
I think the whole RRSP thing was a scam cooked up by banks to milk us dry and make them rich...
Ah shit... Now I'm sounding like Jack... Somebody stop me.
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Wally_Sconce 
CKA Elite
Posts: 3469
Posted: Mon Sep 29, 2008 9:34 pm
Its good to utilize the RRSP as a tax deferal investment, but many people don't realize what happens once they hit retirement.
RRIFs have a manditory minimum cashout on the principle each year. Whether you like it or not, every dime of you savings will be taxed over a specific periond ( I cant seem to remember if this is 15 years or other)
Anyways, my advice would be:
- fill up your RRSP early so you benefit from interest earning more interest without being taxed
- but as you get closer to retirement, it may not be worth putting your savings into an RRSP. Other investments might be better. You'd have to factor in how soon do you plan on spending your saving, and if it is considered income how will it effect your tax bill for the year.
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Posts: 8851
Posted: Mon Sep 29, 2008 10:00 pm
Don't panic! I've got a bit in Rsp and some in mutuals. Real estate is still the best return for investment these days. Fortunately my home is paid for and I have a property as well that I rent out. Everything paid for. My 2 cents worth; Pay off everything as soon as you can. Work extra hours. 'Lump sum it'. Think of all the interest that you are paying each month. What a savings that would be!
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Wally_Sconce
CKA Elite
Posts: 3469
Posted: Tue Sep 30, 2008 12:08 am
look u[ the smith maneuver, its way to convert your home debt into business debt
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Posts: 4914
Posted: Thu Oct 02, 2008 12:20 pm
I am down almost 30% since this time last year
but since I don't plan on needing it for the next 10 years, I don't mind it tanking. Means I can buy more units and when the market recovers be in better shape.
Just make sure you roll over equities into something more stable about 2-3 years BEFORE you need them and hopefully on a high. That way you won't get hammered when you cash in.
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Posts: 1869
Posted: Thu Oct 02, 2008 12:23 pm
No change in my RRSPS, thank goodness, but my mutuals took a beating. tritium tritium: How has the TSX dive hurt your RRSP's?
60% devaluation in Canada.
Alberta oil industry will grind to halt, and those mortages people took out..
Time to buy, buy, buy!!!!!
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