Light in the Darkness for Canadian RRSP Holders

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Edmonton, Alberta - For many RRSP holders dips in the stock market directly equate to dips in quality of life after retirement. It’s a harrowing experience to watch daily stock and mutual fund values dive knowing more years of working lie ahead. The dream of “Freedom 50, 55 or 65” may be lost forever. Glenn Simon Inc., a Canadian real estate investment company offers self-directed RRSP holders a way to take control of their financial future.

The company is offering Canadian self-directed RRSP holders the chance to “recession proof” their retirement with RRSP second mortgage investments.

A relatively new option to investors; they can hold a second mortgage, like a bank, on investment properties. Returns are guaranteed at 10% to 12% per annum and mortgage terms last from 1 to 5 years.

“Finally regular people who have seen poor returns for years, have a chance to take a position of control and power in their investments and future” said Todd Millar, president and owner of Glenn Simon Inc.

There are a few restrictions but a quick call to your financial institution will let you know if your RRSP is eligible for this type of investment.

RRSPs must be self-directed to take advantage of second mortgage investments. However, some financial institutions may allow you to change your RRSP to a self directed one with a small fee.

“We have clients who get to an age where they are just tired, maybe their energy levels are flagging they just want to kick back and relax with their loved ones. That their life’s savings can be halved in a matter of months is infuriating.”

“The question on everybody’s mind is where can I protect my savings?” Millar said on the phone Thursday.