462 – How To Spot The Bank's Sales Tricks
Debt Free in 30
00:00
How to Avoid Bankruptcy
If you've had an RSP at the bank for 10 years and haven't contributed to it and you go bankrupt, you don't lose it. So cashing it in is an asset you wouldn't have lost anyways. But guess what? You're going to incur a big tax liability. A banker will make money by and you know, cashing in one investment to buy another one. Because then I get the feed twice the old, you know, borrow to save. If if an RSP loan is actually a good idea for you, and I'm not going to comment because I don't know your situation, but if it is, that is something you should think about in advance
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