This calculator is brought to you by www.retireware.com. The output from the calculation will take you to the RetireWare site. Click the back button to return to rrsp.org, or take a minute to browse the site, which has a lot of information on retirement planning and RetireWare software. - Doug Hudson

Should I pay down my mortgage or invest in my RRSP?

Your best option depends on the following factors:

• Mortgage rate
• Remaining term on mortgage
• Years to retirement
• Future rate of investment return
• Marginal tax rate

What happens if you put the money in your RRSP?

You get tax-free compounding of your investments and a tax refund that you can re-invest in the RRSP.

What happens if you pay down your mortgage?

You get reduced mortgage payments and you can invest the monthly savings (and RRSP deduction tax refunds) in your RRSP.

Calculation Inputs: Amount to pay down mortgage or deposit to RRSP: Remaining term on mortgage (years): Years to retirement: Mortgage rate: % Future rate of investment return: % Marginal tax rate: %

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Doug Hudson