More Canadians making early withdrawal from RRSPs

At this time of year most people are thinking about topping up their RSP to get a bit of a tax break, but unfortunately some Canadians are making plans to cash out their RSP before retirement to pay for living expenses.

As politicians wring their hands over Canadians’ lack of retirement savings, figures obtained by Global News from years of tax filings indicate a significant jump in the number of Canadians making early withdrawals from their RRSPs – not for housing or education, but simply to make ends meet.

The biggest increase was from 2007 to 2009, when 1.86 million Canadians took out RRSP cash early. That figure dipped slightly by 2012, to 1.82 across Canada, but remains about 7 per cent above 2007 levels nationally, 12 per cent above 2007 levels in Quebec and almost 10 per cent above in comparatively wealthy Alberta.

Read the full article over at Global News.

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@Son of Ponzi – There are probably more empty Honger homes/condos than HAM in GVRD.


– oh one more thing, for developers that do offer standardized interiors, the client pays up first. So there is no raising money issue.

Son of Ponzi

actually, some of the most garish decorations can be found on HAM houses.


@patriotz – Yes, that could be part of it. My wife’s parents building have units that looks like it was just done basic construction and this is like 5 years after occupancy. However, it seems like people also wants the freedom to decide how they want their home to be. Some people want huge bedrooms, while other people want 2 living rooms. A lot of people don’t care for large kitchens or washrooms like they do here, instead they want really big bedroom, or living room. Kitchen and bathrooms are related to utilitarian functions. You could literally spend more on interior deco than how much you paid for the unit. Going to side by side units could be like going into totally different countries. There is some trends towards developer offering standardized interiors like they do here but it is… Read more »

Son of Ponzi

keeping houses empty is a century old HAM tradition that has been recently exported to Vancouver.


“How do you spot an empty HAM house in Richmond?
All the Xmas decorations are still on.”

I would be surprised if HAM decorated their houses for Christmas.



IMHO the real reason for this is to make them more attractive to speculators. Obviously you have less capital tied up in a non-earning asset if an empty apartment is only half finished. The developer also doesn’t need to raise as much money to build the development.

Son of Ponzi

total freedom to do whatever the hell you want
In China?


In China, new apartments comes with just the bare concrete walls with warning about not knock down/drill/opening weight bearing walls. It is up to homeowners to do the entire interior deco from subfloors, wall paint, to determining where the kitchen, bathroom and bedrooms will go. Sometimes you can even determine how many rooms and how big you want each room to be. Total freedom to do whatever the hell you want.

Son of Ponzi


What Canada should do first and foremost is remove parents and grandparents from family class. There is currently a court challenge over waiting times versus spouses and if successful it would make things even worse.
Can you imagine a Canadian challenging the Chinese immigration system in Chinese courts?
Only in Canada are we treating our own people like criminals and foreigners as special.

Son of Ponzi

Balloon or bubble?
What’s the diff?
You know the gig is up, when the “experts” resort to semantics.


That court challenge was won by parents and grandparents side last week.

My concern is the supervisa. These temporary residents overburden the infrastructure such as hospitals, doctors, specialists, etc.

Government goal to overburden the system and lead to private healthcare?

Son of Ponzi

angry this morning????
Didnt get no satisfaction last night?


Sherry Cooper has written a few books. Ever read any? She is an American. Got kbocked up by a Canadian and mived to Canada. The commodity market turned late 70s, early 80’s, and quickly became a depressing time. She lamented not keeping up with the Jone’s back home, as the American economy under Reagan, came to life. She stuck it out in Canada, to her credit. If your a Jones type, and Cooper is saying a slow deflate in housing prices, that means you’ve made a lousy investment.

Son of Ponzi

Morning quiz!
How do you spot an empty HAM house in Richmond?
All the Xmas decorations are still on.



your dad coulda wear a condom when he fuched your mom and should have paid her.


shoulda coulda woulda

Canada actually should be doing more to curb native aboriginal breeding. It’s a real f$cking mess. There’s your bubble. Since aboriginals were massacred 150 years ago by the British and their bio-weapon smallpox, the breeding today is quietly accepted.


: The funny thing is that if Sherry Cooper had ever been a kid, she would probably have inflated balloons until they popped in her face. I know I did. Good times…


: “I guess I just imagine that with all different shapes and sizes that it would make it all that much more cumbersome to find a place that fit the stuff that you have.”

Actually, most appliances have just 2 or 3 sizes (usually you have small, standard and super-big), with like 90% of them standard . Most apartments, condos and houses will accomodate standard except crappy places or high-end houses. Every add I’ve seen posted on this site for condos or house below 2Milion$ were showing standard sized appliances.

What I personnaly can’t believe is that I’d let Joe the builder decide which appliance I’m gonna use. I mean, once I move in, please GTFO of my home.