I`ve made a decision.

I`ve been going back and forth a lot trying to decide whether I should take the extra money I have and use it to pay down my mortgage faster or invest it in RRSPs.

I`ve been looking a lot online for insight from other people and people seem to be pretty divided on the subject but ultimately I`ve decided that I`m going to stick the money in RRSPs.

My reasons are, mainly that I have no money at all in RRSPs right now. Since my mortgage is acceptable debt I think I should focus my energy on topping up my RRSPs. Even if I take the full ammortization period to pay off my mortgage, and if I end up staying in this house forever, It`ll be paid off 15-20 years before I plan to retire.

So that was my big decision today. When I get my assessment back from the tax man I`ll know exactly how much money I can save up for my RRSP limit and that will become my main goal. My secondary goal is my TFSA.


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