Credit Crisis and My RRSP

Money ClipWe’ve all heard about the credit crunch and the banks’ write-offs, but I never really understood how all of this happened. It was so sudden; it was a bust. I read an article about the credit crisis and it explains it very well. Check out the link below.

I have been wanting to start a mutual funds account for a long time now, but I haven’t got the time. However, I want to get the forms done this weekend. For the past few months, Mark Carney and the Bank of Canada has decided to lower interest rates. If we’re heading into an economic recession, this is the perfect opportunity to purchase index funds and bank stocks. For this reason, I want to start my RRSP and begin contributing. I would encourage everyone else to do the same.

Link: New York Times – Can’t Grasp Credit Crisis? Join the Club




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