If you go to Amazon.com, Amazon.ca or Chapters.Indigo.ca and do a keyword search for "RRSP" you may be surprised to learn that there has not been a book solely dedicated to RRSPs for the last 4 or 5 years. Not only that, as a financial advisor it’s actually quite a tedious task trying to locate one definitive source of information pertaining to RRSPs and RRSP strategies. You read about one strategy, then you have to cross-reference with CRA’s rules, then you have to sift through varying opinions of different experts who may or may not agree with each other, etc.
So I decided to change that! :) The book is titled: "RRSPs" and contains 41 strategies for beginners to experts. It has nothing to do with investment selection, but rather how to save tax and take advantage of all the various ancillary RRSP benefits.
The book is more of a reference book than a "How to create wealth" book – so it’s surely more of a dry read than something like The Wealthy Barber or The Automatic Millionaire, etc.
Perhaps the RRSP-heavy content of the past few months makes more sense: I’ve been using this blog to slowly write the book. The files are off to the publisher today and are awaiting final approval after I receive a proof later this week. If you are a regular reader of this site, then you will have read most of the content already. Nonetheless I will be giving away one hardcopy per month to readers of this site – starting as soon as I get the first shipment delivered!
ATTENTION ALL BLOGGERS: Contact me via email and I will provide the electronic copy of the manuscript to you now if you would like to do a review. I will also provide at least 1 free hard copy to give away to your readers (and an additional copy per 500 RSS subscribers to your blog.)
The review can be positive or negative – all criticisms and suggestions will be added to next year’s edition as necessary. The book is what it is because of the discussions and debates that have taken place through commenter’s remarks on this site, and from what I have learned from my fellow bloggers – and I hope you will continue to challenge and educate me in the future.
I will keep you posted on the progress of the book!
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Excellent idea Preet, I’ve always found your information to be very educational, specific, and easy to understand. I hope you have success in your new venture.
Congrats Preet, I look forward to reviewing your new book!
Exciting. If your book is anything like your blog, I’m sure it’ll be a smashing success even if it’s a reference book.
Congrats – that was pretty fast.
Mike
Congrats Preet! Your blog on this subject is well written and informative and this book will be very useful. Maybe Scotia will buy about 5,000 copies to distribute to selected clients; then it would be a ‘best seller’ :-)
Thanks for the comments guys! I have 3 more books on the to-do list (my girlfriend is going to kill me). :) I can’t tell you how many late nights I’ve had in the last month polishing it up – it’s tough falling asleep before 3am these days – I’m too used to working late… :(
The book would probably be of great benefit to financial advisors too – I have thought about aggressively marketing it to all the firms and even accountants.
There are no textbooks in the industry on RRSP’s – at most they will be a chapter out of a licensing book.
It would be fantastic to have a firm buy it for their clients – but I wonder what their thoughts would be if they find out their clients know more about RRSP’s than their advisors… :)
That’s a pretty good idea. Specially for new immigrants in Canada. I’ve been learning a lot since I moved and I still have a lot to learn, but your blog has helped me :)