How should a new Canadian invest his extra cash?

A 27-year-old who arrived in Canada not long ago has found his footing, parted ways with an advisor who happened to be a family friend, and started investing on his own. With a strong savings rate, money already working in a TFSA and RRSP, employer matching, an RESP for his child, and a couple of properties, his question is where the next surplus dollar should go: the TFSA or the mortgage. This piece is partly about that choice and partly about making a rental property earn its keep. Allan notes that paying down a mortgage and investing are roughly equivalent when the rates match, so the call comes down to expected returns, and he stresses keeping the RESP and RRSP contributions flowing to capture grants and family benefits. The more advanced idea he introduces restructures debt so the rental's borrowing becomes tax-deductible. It's a good read for young savers juggling several accounts at once.