Yes you can choose the funds

its a savings plan that your employer gets tax benefits from

Money you put into it is pretax and is usually (if done correctly) put into the market. There are heavy penalties if you take it out before retirement age (~63)

Employers often match a certain % of what you put it

Max amount you can put in in 2020 was 19k

there are tax breaks if you don't remove it early. most people are too stupid and pay to have it managed through things like mutual funds

You can use 401k savings on a mortgage without penalty tho ?

I been meaning to start a TFSA

Its more like a DC within an RRSP. Its locked so you cant even use it to buy a house using the first time home owners benefit

0.5% management fees on indexes that match the S&P 500 is not a scam

Or am i being trolled

Word thats why rrsp fire

idk why you all are so blindly trusting in banks and s***

it's such a weird disconnect with people these days

they love protesting cops and other institutions though

we need an extinction level financial event to make people wake up because 2009 certainly didn't work

literally what is the point of having your money locked away then kid

please look up the basics of time value of money

Goal is to have 5 income streams by end of 2021. Lfggg

Getting untaxed income from side jobs so trudeau dont use my money to pay his friends and family for fundraising events >

The point is to maximize tax advantaged compound interest

ok so buy your boomer s&P bags .... not in a 401k

Ctfuu

Someone call the CRA on Ydb

i know but that is a lie when you are young you should be managing your own money and putting it in tesla and bitcoins

College basketball starting next week

Took me this long to realize im being trolled

im getting old

Wat r they gonna do raid my place for the drawer it sits in lol

Im extremely bullish on sq bro. Got in super early. Gonna be bigger than shopify

Flexing thread?