Hi, Diana Thank you for the explanation. We have similar plans here in the US. Our IRA and 401k plans are similar in purpose and benefits to your RRSPs it looks like. I don't think we have to transfer them to a separate account when we retire, but there are requirements to begin drawing at least a minimum amount from them after a certain age. They are similarly tax-advantaged. Your REP fund sounds similar to one of our plans. My children were all grown before that one came into being, and I find I have it perhaps confused with a special type of IRA called a Roth IRA. I'm no longer sure whether there must be a specific purpose for that, but I do know that the difference is you contribute to a Roth with after-tax dollars and withdraw the funds tax-free when it matures, where with the regular IRA, you contribute before-tax dollars and pay taxes on it when you withdraw it. The advantage was supposed to be that you would be presumed to be in a lower tax bracket after retirement due to lower income. I sincerely hope that is not the case! So we'll see how it turns out. It sounds as if your rules are a bit more flexible than ours, but I'm no expert on it. I have always assumed I would have to continue to generate some kind of income even after I reach so-called retirement age, so I've perhaps been a little negligent in this area of knowledge. I trust me to be able to support myself more than I trust my government to support me in the manner to which I would like to become accustomed, as my mother used to say. Cheri

Cheri, You did not send an incomplete impression. I failed to do my part in finding out what you were about. That was my fault. 0:) Peace, Leon (angel smiley is zero, colon, closed parenthesis)

Hello Cheri,What a Great story!!! I'm very glad that you over came your fears!!! They can be very real.I myself had to overcome my fears over my inventions, And put myself out there!!! And Here I Am!!! I enjoyed your post,Thanks!!! Sarah Elizabeth

Hi Cheri, Buying and selling houses gives a big rush. A spec house to me is buying a house to be sold when it is completed. An investment house is one bought or built to rent. Both have their place, but choosing your investment goals is important. Best of luck to you. Ron Nelson

Ron, You're correct, a spec house is a house that is built "on speculation" with the express purpose to sell it for a profit when it is completed. It is one kind of investment, specifically a short-term one. Real estate investing has many faces. One can find a bargain property, tie it up on an option and re-sell it to another investor or an end-buyer in a simultaneous close. Or find a fixer-upper property, have it rehabbed (or do it yourself if you have more time and talent than money) and sell it for a profit. Having rental properties would be my last choice unless I could have a property manager--something I'm told is only cost-effective with at least ten income properties. One way to get into that without buying ten properties at once is to invest in a Real Estate Investment Trust--a REIT--with others who would like the residual income but not the headaches of being a landlord. Thanks for coming by to post, and for your good wishes. I don't recall seeing you post to my forums before, and I'm always thankful for new contributors. Cheri