One of my favourite games that I used to play at work, would be Meeting Bingo, where someone would print out a Bingo card with a whole bunch of buzzwords, or acronyms that might be used in the meeting, and you tried to fill up your card (although it was very bad form to yell BINGO! in the middle of the meeting). So what is RRSP Bingo.
With this being the last week of RRSP contributions for Tax Year 2014, allow me to give you an RRSP Bingo Card, that you can take with you if you are going to visit a bank or investment institution, and see how many of these terms get used in your meeting (or just how many of these terms are used in Financial Articles this week).
Remember in RRSP Bingo, you can win with a single line, but you can make it more challenging if you try for a:
- Make a cross (i.e. two lines that cross in the middle)
- Fill the entire card
- Fill two Rows of columns
- And many more
RRSP BINGO |
||||
B |
I |
N |
G |
O |
Spousal RRSP |
Balanced Fund |
Low Risk High Yield |
Home Buyer’s Plan (HBP) |
CPP Collapse |
Common Sense Investing |
Pension Shortfall |
Kids Won’t Help |
Living in a Van Down by the River |
Pension Adjustment |
Estate Planning |
Market Linked GIC |
FREE |
Whole Life Insurance |
Long Term Planning |
Contribution Room (or RRSP Limit) |
Stock Market is Dangerous |
Retirement Lifestyle |
Cash Flow Goals |
Locked in Retirement Account (LIRA) |
Interest Rates |
Lifelong Learning Plan |
Financial Security |
Whole Life Annuities |
The Tax Man |
Feel free to comment about other “annoying” or “fun” RRSP terms that I am missing from my game card.
Since a RRSP margin account would be illlegal, I would run from the firm that tries to sell me on one!
I was a bit disappointed not to see my favourite the “market linked GIC” I guess everyone would be yelling Bingo! if you included that one. They have been pushing them hard at my relatives this year, including suggesting a 4-year locked in market-linked GIC to my 80-something year old relative for her RRIF. It makes me angry.
OK, editor’s note, thanks to this helpful comment, I have changed one cell 🙂 Thanks!