Tudor_n on Nostr: If the company match is put in a DCPP and not a Rrsp, I’d probably recommend ...
If the company match is put in a DCPP and not a Rrsp, I’d probably recommend Bitcoin or tfsa instead.
Couple of reasons:
1. during crisis times, first thing I noticed that disappears is pension funds. Mysterious how that happens 🙄
2. No such thing as free money. I don’t have the mental capacity to understand where the employer is getting this money from, but there’s a trade off somewhere
3. You should not look into rrsp unless you are at the height of your career where you will save the most tax dollars (since you are earning the most you ever will be. Studies show that that’s ~45-50 years old. Though it’s not a rule). Tfsa you suck up the taxes today and guarantee no taxes in the future. The earlier you are in tfsa the better it is for compounding. And in my experience, companies don’t match tfsa contributions.
4. Bitcoin throws a wrench in the mix. IMO, fiat and bitcoin can’t coexist. They are polar opposites. If one goes bust the other survives.
I personally don’t know how long the fiat fraud can go so I split my contributions. But I don’t put it in a dcpp or rrsp which in my situation are worthless.
Odds are if you split the middle (2% in your company match and 2% you personally DCA in bitcoin, you’ll get better fiat returns in Bitcoin.
Depends what you plan on doing with your Bitcoin. Capital gains taxes will be a bitch. Not to mention to comply with CRA rule, you may need to fix your public wallet addresses when/if you sell your bitcoin.
Couple of reasons:
1. during crisis times, first thing I noticed that disappears is pension funds. Mysterious how that happens 🙄
2. No such thing as free money. I don’t have the mental capacity to understand where the employer is getting this money from, but there’s a trade off somewhere
3. You should not look into rrsp unless you are at the height of your career where you will save the most tax dollars (since you are earning the most you ever will be. Studies show that that’s ~45-50 years old. Though it’s not a rule). Tfsa you suck up the taxes today and guarantee no taxes in the future. The earlier you are in tfsa the better it is for compounding. And in my experience, companies don’t match tfsa contributions.
4. Bitcoin throws a wrench in the mix. IMO, fiat and bitcoin can’t coexist. They are polar opposites. If one goes bust the other survives.
I personally don’t know how long the fiat fraud can go so I split my contributions. But I don’t put it in a dcpp or rrsp which in my situation are worthless.
Odds are if you split the middle (2% in your company match and 2% you personally DCA in bitcoin, you’ll get better fiat returns in Bitcoin.
Depends what you plan on doing with your Bitcoin. Capital gains taxes will be a bitch. Not to mention to comply with CRA rule, you may need to fix your public wallet addresses when/if you sell your bitcoin.