Garth Turner's 1997 RRSP guide

Money Digest, Dec, 1996

Garth Turner, former National Revenue Minister, is one of Canada's best known financial commentators. His new book, a guide to 1997 RRSPs is written in his trademark breezy style. Most RRSP guides tend to concentrate on mutual funds. Not this one. This is a relentless book on strategies for building wealth.

Can we still make it? Here's what Turner has to say about our economy: "There is nothing weak about the economy. The problem is Canadians are investing in the wrong places. Too few are taking advantage of today's outstanding opportunities because they fear the future. Worse, they are not harnessing the power of RRSPs." Based on this highly optimistic view of the present and the future Turner proceeds to offer specific advice on how to invest your retirement dollar for the most effect.

After reviewing the emerging political, economic and demographic realities, Turner discusses how to:

* turn your house into a retirement fund;

* Build your RRSP without any cash;

* Split your income with a spousal RRSP;

* Legally exceed the RRSP limits;

* Bouchard-proof your wealth; and

* Find a financial adviser you can trust.

Turner does not mince words. His advice is direct and to the point. This book also contains a section on accessing information on the Internet. Garth Turner's 1997 RRSP Guide contains many useful ideas and is well worth reading.