Scenario: Robert is at a point in his life where he needs to make a decision. The

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Question:

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 doesn’t 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 of zero) of what an LLP and an HBP are;

• 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 should make;

• Make sure your opinion is backed up using facts about the LLP and HBP and as to why you made this choice. 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