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
Low Risk High Yield
Home Buyer’s Plan (HBP)
Common Sense Investing
Kids Won’t Help
Living in a Van Down by the River
Market Linked GIC
Whole Life Insurance
Long Term Planning
Contribution Room (or RRSP Limit)
Stock Market is Dangerous
Cash Flow Goals
Locked in Retirement Account (LIRA)
Lifelong Learning Plan
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.