rrsp

What a Month!

In my last email, I was blunt about the tough quarter we had to end 2018. It was a significant pull back and not a fun way to end the year. Today, I'm excited to report that we had a fantastic start to 2019! Starting in the last week of December, we witnessed an extremely good turn around. Both Canadian and US Stock Markets appreciated throughout January at a rapid pace. This spectacular run offset much of the losses of 2018 so it was a very welcome start to the new year. To take a deeper look at the numbers, the Toronto Stock Exchange was at a level of 13,780 on Dec. 24, 2018.

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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:

Happy New Year and Welcome to 2018!

We hope that everyone had a good time over the Holidays. We enjoyed a couple of weeks out of the office with the girls. For the most part, we stayed close to home (as it was dreadfully cold) but we did get out to Drumheller for a night to check out the museum again. The girls always enjoy their time there and the museum has some new displays which are fantastic.

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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.

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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.

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Retirement: The Promised Land or Crushing Boredom?

For years, you have been anticipating that last day at work. When it finally arrives, will it live up to your expectations?

Retirement looks different in everyone’s imagination. For some, it means never wearing a tie again – for any reason. For others, it means traveling the world in designer clothes while attending fancy social events or elaborate musical performances. Some might envision it as a poolside chair with a cold glass of lemonade that never runs out.

While the lemonade may be in unlimited supply, your attention span is not. What happens if you get bored?

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.

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