rrsp

As The World Improves

If your way of assessing the state of the world is only through stories gleaned from the regular media, then you are likely missing out on all the marvelous and wondrous advancements of human society over the previous years and decades.

With news reports during the final months of 2018 focusing on market volatility and US budget problems, it has become very easy for investors to focus their attention mostly on short term and transitory issues.

How to Get the Most from Your RRSP

Introduced in 1957, the Registered Retirement Savings Plan (RRSP) is an incentive program to entice the Canadian population to save for retirement. In order to get the most from this type of savings vehicle, it is essential to plan future investments and avoid panicking to meet deadlines or taking action without fully understanding the long-term effects.

Let’s take a look at some of the most practical investment strategies to get the most from a savings scheme like the RRSP:

Tick Tock: RRSP Season is Here!

I am continually amazed at the number of people, who have high incomes and savings, that fail to take full advantage of the preferential tax treatment of RRSPs versus other types of investment or savings accounts. This is especially true for business owners who often have retained earnings in their corporations while also having massive amounts, sometimes $50,000 or more, in unused RRSP contribution room.

RRSP Vs. TFSA: Which is Better?

With the lifetime contribution room of a TFSA now at $52,000 for most people, TFSAs are now a serious portfolio and investment planning alternative to making RRSP contributions. So which is better you ask? Well, it depends…

If you are a Canadian with significant assets and savings then maximizing your TFSA makes sense as a retirement income planning strategy. The income from it during your retirement years is non-taxable and will not trigger any Old Age Security clawback which starts at $74,780 in 2017.

Tags: 

Getting the Most from your RRSP

Since its inception several decades ago, the Registered Retirement Savings Plan (RRSP) has become the most widely used retirement savings vehicle in Canada. In order to get the most from an RRSP, it is essential to plan ahead for future investments to avoid panicked deadline decisions or taking action without fully understanding the long-term impact.

In this article we examine a number of different RRSP savings strategies:

RRSP Income Options

Let us discuss a scenario that faces a high number of retirees and soon-to-be-retirees all over the country. You have spent years saving for your retirement and you have made smart decisions about using the power of RRSPs to accumulate a significant nest egg.

But now you’re unsure about how best to get income from your investment portfolio as your retirement day comes ever closer. In terms of your RRSP investments, as a decision must be made before the last day of the year during which the account holder turns 71.

Tags: 

Strategies to Enhance Your RRSPs

Since their introduction in 1957 as an incentive to save for retirement, Registered Retirement Savings Plans (RRSPs) have evolved into the most popular savings vehicles in Canada. All too often, though, RRSP decisions are made in a panic to meet a deadline, with little or no planning or understanding of the effects of our actions.

Here are a few top strategies to help you get the most from your RRSP and retirement plans:

Registered Retirement Savings Plan

A Registered Retirement Savings Plan (RRSP) 1 is a retirement plan that is registered with the federal government and that you or your spouse or common-law partner can establish and contribute into until the end of the year when the plan holder turns 71.

Deductible RRSP contributions can be used to reduce your tax. Any income you earn in the RRSP is exempt from tax for the time the funds remain in the plan. However, you generally have to pay tax when you cash in or receive payments from the plan.

Pages

Subscribe to RSS - rrsp

What our clients are saying...

  • We value the personal service and detailed explanations we receive from Anthony on an ongoing basis. We feel comfortable recommending Anthony to our family and friends as he is someone who we can trust and has our best interests in mind. He has been great at helping us work towards a comfortable and manageable retirement.

  • The financial planning process we went through was clearly outlined and explained to me. I wanted to have a better understanding of my financial position and to know whether I could retire early or not.

    I am happy to recommend Anthony to my family and friends.

  • We valued having more options and new strategies in managing our finances up until retirement. Our expectations when working with a financial planner is to have someone who is very knowledgeable with investments and to work with someone who has the time to meet with us for intelligent discussions and provide alternatives for us to consider. Anthony definitely more then exceeded our expectations and we would be happy to recommend him to our family and friends.

  • We appreciate Anthony’s efficiency, his friendly demeanour and ability to listen to our concerns. We value his honesty and willingness to adhere to our wishes, with an understanding of possible implications and his commitment to explain any negative consequences accordingly. Anthony searched out new life insurance coverage as part of our estate planning. He was thorough and communicated each step in the process to us in a timely manner. We wanted someone who thoroughly understands the financial markets and can explain them in a comprehensible manner. We wanted to work with someone who can respond readily to our needs and who can provide proper advice. Anthony delivered on what he promised and definitely met our expectations. We would absolutely recommend Anthony to our family and friends.

  • I valued Anthony’s insight and recommendation for my investments. When working with a Financial planner I am looking for value and "best bang for my bucks". He was definitely able to meet my expectations and I would be glad to refer him to family, friends and work associates.

  • Anthony was clear, concise, easy to understand and provided useful comparative statistics for our investments moving forward. Our expectations when working with a Financial Planner is that he/she will provide expertise and knowledge with regards to our investments and provide portfolio recommendations best suited to meet our goals and objectives. Anthony definitely met our expectations and we would feel comfortable referring his services to family, friends and work associates.