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The Unconventional Conventional, Part XI

Updated: Aug 6, 2019

The last day of the RSP insanity, ho hum. Apparently RRSP is like Christmas for the banks someone said on the all news channel yesterday, well, I’d like to keep this non-denominational, so please insert your choice of “holiday” in place of Christmas, but I think we all get the point.Banks are the big winners in RSP Season. And by the way they spend their money in dumb-ass ads that clamour over each other, well, it makes me want to turn off my radio. But seriously, the shareholders must be happy, no? They will be with all the new capital to lend out for more debt and for the new assets under management that will generate fees. For the shareholders.

I digress. That’s what happens when you have been awake for more than 28 hours straight, I feel a bit woozy and it is a tad difficult to concentrate but I shall bash the last bash in RSP’s and be done with it, except for maybe again next year or upon request.

I must say that I was all worked up for my last RSP bash, the one and only most awful thing ever about RSP’s. And you know what, one of my fellow bloggers at this online magazine beat me to the punch. This leaves me quite the dilemma. Originally, I was going to bash this last RSP hoorah with an absolutely scorching oratory, one that would make you stand up and say “Hey what the heck???” but now, I feel like just adding the link so I can go on wiseacring and you readers can click on the link to my fellow writer’s column for the official news. And then again, I am a wee bit woozy, and I assure you that my wooziness is not related to alcohol or any other abusive substance so I’d rather just ramble on. However, the article by Ed Olkovich titled “The Scarriest RSP Story” will have you thinking seriously about how the government wants to dupe your children out of their inheritance which if you keep your RSP’s long enough they, the gov’t, will. And what else did you think? You thought the government was doing you a favour when they allowed you to set aside a few bucks to help with retirement right? MAKE SURE YOU SPEND THE RSP MONEY BEFORE YOU DIE! and for those that may be more daring, seek out the RSP Meltdown and take action before

it’s too late.

Here’s the link to Ed’s story, I hope it shakes you up a bit. And causes you to act.

So readers, RSP season 2013 is almost just another faint, distant memory, BUT remember this, you still have ten months to tax plan for the current year using other ideas for wealth creation than a dull-old-government-regulated scheme. What shall we talk about next? Thanks in advance for posting your comments and ideas, I look forward to your input. Join in the discussion @ LinkedIn.

Copyright 2013 Richard M. Kiernicki. All Rights Reserved.

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