I Thought My Visa Balance Was Kind A Low

The 5000 u put into an rrsp, eventually u have to take it out. 30 years from now it will be worth 87,000 dollars, which implies 30,000 of it belongs to revenue canada one way or another (direct withdrawl or upon death), was it worth to keep 2000 in tax to pay 30,000 later?

Why not implement an RRSP meltdown?
cheers
rob

I don't have even $5K total in credit card debt. I do, however, admit a bit of coveting of your tax write off.

You're all welcome for the linky ;) Great promo. 0% is a hard rate to beat!

My best credit card is from a small bank whose website stinks horribly, but they have continued to move me up over the last several years from a student limit of $500 to $15k or so.

Jose - The US version of a RRSP is a 401K, or IRA.

Rob - I do not plan to withdraw it. I will use the $2,000 refund and then add $3,000 to repay the MasterCard when the time comes.

Michael - I only have to charge GST on Canadian advertisers who purchase direct from me. There are none.

Gdog - No, I didn't ask them to increase the limit. It would be useless now. Even if they increase the limit, I can not use it because of the zero interest transfer. Were I to charge anything on the card, interest at 19% would be tacked on to those purchases and will compound until the $5,000 zero interest balance is paid in full.

Sort of on a related, but not so related topic: I was wondering for a small business like yours, John, how do you go about collecting GST? Google Adsense is a big part of your income and you can't exactly charge them GST.

Whats your plan to withdrawl the rrsp's while eliminating the entire tax bill?

what is RRSP? is this valid in US too? Do they charge anything for the transfer? I know cards sends you checks to do transfer, but in the fine print they charge you quite a lot in fees for the transfer. 40% return sounds good, again only in canada? Sorry if sound somewhat clueless.

One day I'll get credit, though I don't really want any more cards. My Visa is enough for me and its only $1500 because that is what I requested.

I hate using credit, but it's nice to know I have it when I need it.

Instead of credit, people can just send me cash instead!

John: Have you tried asking them to increase your limit? What did they say?

Yup, they write addresses properly in Canada. 12/5/2007. December 5th, 2007.

I am still getting used to the backwards way they do it in Hong Kong (based on the European way).

I just looked over the letter they sent me and you're right, it's 12/05/2007. I think it's safe to assume that it's December 5, 2007...

Hmm, my one say 12/05/2007. Would you say that is Dec. 5th or May 12th?

I took your advised and applied for the Citibank card. I didn't ask them to transfer much from my RBC Visa, just $2000. My limit was also set to $5000 but that's more than enough for me.

The only difference was that I had until May 5, 2007 unless I misread the date format. When I first read the other blog entry, I was curious as to why you weren't eligible for the 0% interest because I thought you had applied before I did.

I find that your financial tips are very helpful. Thanks for putting it out there!