Preet Banerjee has been very generous to bloggers in giving away free copies of his new book to readers.  For MDJ readers, Preet has offered to give away 5 copies of his new book RRSP's.

Here's a snippet of the book review that I wrote: 

..This book starts off with explaining the basics of RRSP's and how to calculate your tax return based on your RRSP contribution.  From there, it moves onto 41 RRSP based strategies from basic to more complex. 

Even though I've done quite a bit of research on RRSP's, I have learned a few things from this book, especially with the detailed scenario comparisons.

How to enter:

  • Simply leave a comment in this post about your RRSP strategy (even if you don't have one).
  • Be the TOP comment contributor in Feb 2008, and you'll receive a free copy. 

The Rules:

  • 1 copy will be given to what I think is the best comment.
  • 3 copies will be drawn at random.
  • 1 copy will be given to the top commentator of Feb 2008 (standings in the right sidebar)
  • Please only 1 comment entry / person (please enter a valid email address).
  • Only those with a Canadian mailing address will get free shipping (publisher rules, sorry).

Deadline: 

  • Contest for the first 4 copies will end Friday 5pm EST Feb 8, 2008.
  • Top commentator of Feb 2008 will be determined at the end of Feb.

Good luck!

Update:  Contest is now closed. 

108 Comments

  1. Commander T on February 8, 2008 at 11:45 am

    I am still in University, so I haven’t had the funds available to really start my RRSP strategy. However in my first year of university I really showed my ignorance by purchasing a Principle Protected Note from CIBC. CIBC will not tell me how this note is doing for me so I am crossing my fingers and hoping I will get something more then the 500 I put into the investment (I will find out Dec. 2008). I have learned a lot about investing and I will never make another investment into a PPN

    My RRSP strategy once I finish up my education will probably consist of ETF’s. Since I am very young, I will probably start out with 100% equities. My geographical diversification will probably be 25% Canadian 40% American, 35% International.



  2. Cheryl on February 8, 2008 at 12:51 pm

    I don’t currently have a RRSP strategy but I plan on using my tax return this year to start.



  3. Den on February 8, 2008 at 1:00 pm

    The current strategy is smallish bi-weekly payments through my employer into a mutual fund while I concentrate on accelerating the mortgage.



  4. Jamie on February 8, 2008 at 2:01 pm

    My RRSP strategy is quite simple. I contribute the maximum amount each year and contributions are made directly by my employer each time I am paid (they also match). It is invested in a well-balanced mix of index funds which I rebalance quarterly. Because the money never actually hits my bank account, I don’t feel like I’m missing it and it doesn’t take much effort for me to keep track of it. Simple & easy works best for me.



  5. James on February 8, 2008 at 2:03 pm

    I like books. Sign me up!



  6. ST on February 8, 2008 at 2:08 pm

    My strategy is first to come up with a strategy! And then…to stick with it! I found that having a child is what is took to get me to start planning for the future. We’ve invested in RRSPs here and there but never consistently. I am self-employed and my husband’s company does not match contributions — so we have not had any of those nice perks that seem to motivate many people’s contributions.

    Over the past few months I’ve started reading up on various theories (such as the couch potato strategy). I’m eager to get started but if anything I now feel more confused than ever. I am skeptical of all of the marketing from banks and other financial institutions and wonder if they really have my best interests at heart. I am even questioning mutual funds as a whole. I want my money to work for me as hard as it can, but where do I start? I have a grasp of the basics now but even with the couch potato strategy I still feel at a loss as to which low MER options are really the best and how to go from where we are today to that approach. And what emphasis should I place on RRSPs vs. paying off the mortgage early?

    On top of that, there is the need to consider education costs for kids in addition to retirement and the rules on RESPs changed last year just to make things more confusing!



  7. Sebastian on February 8, 2008 at 2:53 pm

    I’m new to the country, and RRSP’s. I would love to get hold of some reading material to give me an idea of the best strategies to keep my wealth secure and hopefully bring in some interest. Im wary in these volatile markets and bearish looking stock market!

    Many thanks!



  8. Abe on February 8, 2008 at 3:14 pm

    My strategy is to sell 50% of my holdings in my RRSP every time the market reaches a top (when all my watch list goes all green) and buy them back again when the market tanks i.e. (when my watch list goes all red). I plan to do this every 3 month to avoid redempetion fees. My RRSP account is with ING direct.
    This has worked very well so far in this side ways market.



  9. dropby on February 8, 2008 at 5:55 pm

    We simply max out the contribution limit every year so our family now has more than $200,000 in our RRSP accounts. The problem is that we did not manage the money very well so the grouth is very disappointing. I hope this book could help us out.



  10. Senk on February 8, 2008 at 6:18 pm

    Thanks for the bood review.