Q. I am 66 years old and have not had a good financial plan, but hope to work for another 5-10 years. I own my condo and will have it paid off in full in 5 to 6 years. I also have no savings to speak of—except for $12,000.
I am renewing my mortgage at a great variable rate of 2.8 %. It has been suggested to me to add $25,000 onto my mortgage and to put that $25,000 into an RRSP. This would save me $7,000 in taxes this year, and cost me $2,100 in interest to borrow … […]
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