Posted by: XXX_er
And all the banks are selling the same 250 or so products, but many people have trusted bankers and bought too many RRSP, you get a guy making 100K every year for 30 yrs and he just keeps maxing the RRSP
I wouldn't buy anything from a bank, but a guy making $100K/yr should be maxing his RRSPs for most/all his working life as it's only 18% of his income. That plus maxing his TFSA plus CPP/OAS will get him someplace reasonable financially by the time he retires. As we discussed above if he got lucky and his investment returns were amazing he might decide to change course at the end, but if I was going to advise someone I'd rather see them over-invest in a RRSP than under-invest overall.
I steer everyone I know to Questrade. No fees to buy ETFs and you can access any investment products you want without sales pressure.