# Opening an RRSP



## blu3xtc (Apr 6, 2009)

Hi,

I'm not too sure whether there is a thread on this already but I am looking for anyones opinion on opening an RRSP. I'm considering doing it with Questrade and looking into investing in Stocks & ETFs. I like their fees schedule as I'm only 20 years old and want to get started ASAP. I've had an RRSP before but closed it due to it not being well managed by the bank I was with.

I was wondering if anyone else has any other suggestions? I'm open to all opinions and experiences!


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## leslie (May 25, 2009)

You do realize don't you that it is not up to the bank to "manage well" your account? Are you clear that a brokerage account is quite different from holding RRSP-GIC's? 

Questrade has the unqualified benefit of holding US dollars for trading, but it has other problems. So some searches of past threads on this and other forums. Lots of people have had complaints. Going for the cheapest will almost always be the worst selection - especially for beginners. There are lots of past threads here and elsewhere on the criteria to look for.

If you do not like the RRSP provider, do not close the plan and trigger all that tax on withdrawals. All that contribution room is now vaporized. Simply move the assets/cash directly to another RRSP provider.

http://forums.canadianbusiness.com/message.jspa?messageID=288158#288158
http://www.milliondollarjourney.com/review-canadian-discount-brokerages.htm
http://forums.canadianbusiness.com/message.jspa?messageID=285493#285493
http://www.ndir.com/SI/brokers/discount.shtml
http://www.theglobeandmail.com/v5/content/pdf/0220carrickchart.pdf
http://www.theglobeandmail.com/partners/free/rbc_ic08/onlineinvesting/articles/brokers.html
http://forums.canadianbusiness.com/message.jspa?messageID=295326#295326
http://forums.canadianbusiness.com/messageview.jspa?messageID=295326&stqc=true


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## blu3xtc (Apr 6, 2009)

thanks!


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## sprocket1200 (Aug 21, 2009)

go to the library and read many investing books by many different authors...


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