You've got about two more weeks to make your RRSP contribution. Stock markets are looking shaky. Mutual funds -- well, you can't get away from the high cost of investing there. We've been hearing warnings about bonds' extended run and how it will all end in tears.
How about GICs? If you listen to chartered accountant David Trahair, they are all you'll ever need to make good money and keep your capital safe. He also says that you should forget RRSPs until your debt -- including your mortgage -- is paid off.
The author of books such as Enough Bull: How to Retire Well Without the Stock Market, Mutual Funds, or Even an Investment Advisor and Smoke and Mirrors: Financial Myths That Will Ruin Your Retirement Dreams took your questions at noon (ET) on Tuesday. You can view the discussion by clicking on the Cover It Live box below.
If you would like to continue to discussion with like-minded readers, please go to the Globe Investor forum: tgam.ca/IXC
Mr. Trahair has given talks and taught courses for the Institute of Chartered Accountants of Ontario, the Certified Management Accountants of Ontario, the Human Resources Professional Association of Ontario (HRPAO), the Purchasing Manager's Association of Canada, several provincial government small business associations, a consortium of C.A. firms and university classes.
He was born in Toronto and grew up in Oakville, Ontario. He received his undergraduate degree - a Bachelor of Science and Business from the University of Waterloo - in 1981. He received his C.A. designation in 1985 while working for the firm of Clarkson Gordon (now Ernst & Young). Mr. Trahair is a board member of the Credit Canada, a registered charity dedicated to providing consumer-oriented credit counselling services to families and individuals.
Editor's Note: globeandmail.com editors will read and allow or reject each question/comment. Comments/questions may be edited for length or clarity. HTML is not allowed. We will not publish questions/comments that include personal attacks on participants in these discussions, that make false or unsubstantiated allegations, that purport to quote people or reports where the purported quote or fact cannot be easily verified, or questions/comments that include vulgar language or libellous statements. Preference will be given to readers who submit questions/comments using their full name and home town, rather than a pseudonym.
