Tchavdar Elenkov, BA Econ, CFP Insurance and Financial Advisor Catch 22 Mortgage vs. RRSP.
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Transcript of Tchavdar Elenkov, BA Econ, CFP Insurance and Financial Advisor Catch 22 Mortgage vs. RRSP.
![Page 1: Tchavdar Elenkov, BA Econ, CFP Insurance and Financial Advisor Catch 22 Mortgage vs. RRSP.](https://reader035.fdocuments.us/reader035/viewer/2022070611/5a4d1bbb7f8b9ab0599d0f5a/html5/thumbnails/1.jpg)
Tchavdar Elenkov, BA Econ, CFPInsurance and Financial Advisor
Catch 22Mortgage vs. RRSP
![Page 2: Tchavdar Elenkov, BA Econ, CFP Insurance and Financial Advisor Catch 22 Mortgage vs. RRSP.](https://reader035.fdocuments.us/reader035/viewer/2022070611/5a4d1bbb7f8b9ab0599d0f5a/html5/thumbnails/2.jpg)
What should you do?
Pay down your mortgage – be debt free sooner
OR
Contribute to your RRSP – enjoy tax-deferred growth
![Page 3: Tchavdar Elenkov, BA Econ, CFP Insurance and Financial Advisor Catch 22 Mortgage vs. RRSP.](https://reader035.fdocuments.us/reader035/viewer/2022070611/5a4d1bbb7f8b9ab0599d0f5a/html5/thumbnails/3.jpg)
Introducing the Flexible Mortgage
![Page 4: Tchavdar Elenkov, BA Econ, CFP Insurance and Financial Advisor Catch 22 Mortgage vs. RRSP.](https://reader035.fdocuments.us/reader035/viewer/2022070611/5a4d1bbb7f8b9ab0599d0f5a/html5/thumbnails/4.jpg)
You really can do both
Introducing “flexible mortgage accounts”
Pay down your mortgage AND contribute to your RRSP
F L E X I B L E M O R T G A G E
![Page 5: Tchavdar Elenkov, BA Econ, CFP Insurance and Financial Advisor Catch 22 Mortgage vs. RRSP.](https://reader035.fdocuments.us/reader035/viewer/2022070611/5a4d1bbb7f8b9ab0599d0f5a/html5/thumbnails/5.jpg)
How it works
Rolls your chequing account into your mortgage
Have your money pay down your mortgage
F L E X I B L E M O R T G A G E
![Page 6: Tchavdar Elenkov, BA Econ, CFP Insurance and Financial Advisor Catch 22 Mortgage vs. RRSP.](https://reader035.fdocuments.us/reader035/viewer/2022070611/5a4d1bbb7f8b9ab0599d0f5a/html5/thumbnails/6.jpg)
ADD your debts to your mortgage
Next, take any other debts you may have and add them to your mortgage
F L E X I B L E M O R T G A G E
![Page 7: Tchavdar Elenkov, BA Econ, CFP Insurance and Financial Advisor Catch 22 Mortgage vs. RRSP.](https://reader035.fdocuments.us/reader035/viewer/2022070611/5a4d1bbb7f8b9ab0599d0f5a/html5/thumbnails/7.jpg)
ADD any idle savings to the account
Save “more” interest by reducing your mortgage
F L E X I B L E M O R T G A G E
Accessibility to your money
![Page 8: Tchavdar Elenkov, BA Econ, CFP Insurance and Financial Advisor Catch 22 Mortgage vs. RRSP.](https://reader035.fdocuments.us/reader035/viewer/2022070611/5a4d1bbb7f8b9ab0599d0f5a/html5/thumbnails/8.jpg)
What about contributing to your RRSP?
F L E X I B L E M O R T G A G E
You can now free up cash – sometimes hundreds of dollars per month
![Page 9: Tchavdar Elenkov, BA Econ, CFP Insurance and Financial Advisor Catch 22 Mortgage vs. RRSP.](https://reader035.fdocuments.us/reader035/viewer/2022070611/5a4d1bbb7f8b9ab0599d0f5a/html5/thumbnails/9.jpg)