Financial Library

Get More From Your RRSP

The so-called RRSP Season is on its way. TV, newspapers and magazines will soon be full of advertising to get you to make your last-minute RRSP deposits. And then RRSPs and retirement planning are often forgotten until the next deadline. But a little advance planning will get you more from your RRSP.

Stretching Your Retirement Income

In this, the final installment of the series, Financial Strategies Simplified, we take a look at how to stretch your retirement income no matter how modest the starting balance.

There is a common misconception amongst clients that the day they retire their approach to investing and managing their RRSPs etc. has to change. But the reality is that today's Seniors are in many cases living until age 90 or more and the motherhood rules of investing - buy only safe fixed-income investments - may no longer apply.

Basics For a Wise Financial Strategy

Before a sky scraper can reach for the clouds, it needs a very strong foundation. Once the building is complete, the foundation is virtually unseen. The same goes for our financial strategies. Following are the basics of a strong financial foundation:

Budget - Governments and businesses use budgets to properly allocate resources. It's known as good business. A budget can help you figure out where your hard earned income is going and to identify ways to cut spending or increase savings.

Predicting the Future

Human nature includes the desire to predict and or anticipate both the immediate and longer term future. The reason for doing so is often to eliminate or reduce the fear or anxiety about the unknown. Human beings detest uncertainty and will do almost anything to reduce this uncertainty.

In ancient times people made special offers to local gods. In modern times, people watch news broadcasts and try to interpret how current events will impact their investments.

Year-End Tax Planning Ideas

The following are some ideas for individuals and business owners to reduce income taxes as 2014 draws to a close.

Individuals should consider doing their RRSP contributions before the RRSP rush in the first 60 days of 2015. You can get better values by buying today than when all the last minute procrastinators rush to buy their RRSPs in the New Year and temporarily push up market values.

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