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Part Four: Putting what you know about RRSPs into context. Using what you know about RRSPs, read the following scenario and give your opinion of

Part Four: Putting what you know about RRSPs into context. Using what you know about RRSPs, read the following scenario and give your opinion of what you would do in this situation. Your answer must be supported using information about RRSPs from both the Content section of Module 5 and from the textbook. This is a long answer question, and as such must be completed using proper sentence structure, spelling and grammar. Scenario: Robert is at a point in his life where he needs to make a decision. The two choices that he feels he should be considering are going back to school or to stay with his current job and buy a house as an investment in his future (and a place to live with his family). He has $26,000 saved in an RRSP. He has heard that there are two ways he could utilize his RRSP account to increase his future net worth an LLP and a HBP. Although he doesnt know what a LLP or a HBP really is, he thinks that the best way to make a decision is to look at both the LLP and the HBP from many viewpoints, weigh his options and then decide which choice to make that would provide him with a better future. Help Robert make his decision by discussing the two options he is considering. Include in your answer: a description (in your own words copied definitions or descriptions will be given a mark ofzero) of what an LLP and a HBP are; and multiple facts about both the LLP and the HBP that Robert should consider while making his decision; then give your opinion as to which choice you think Robert shouldmake; make sure your opinion is backed up using facts about the LLP and HBP and as to why you made thischoice. At the end concluding opinion of what choice should be made based on the previously discussed relevant facts about the LLP and HBP. The opinion should be clear, relevant and backed up as to why this choice was made.

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