Retirement Planning Confusion

Many investors feel confused over the best way to grow their retirement savings. RRSP or TFSA? Equities or Guaranteed Investment products? The choices can be overwhelming.

This uncertainty is leading many to become paralyzed in making decisions. This inaction can have serious long-term affects on your retirement plans. 

If you are unsure which savings vehicle to utilize or how to invest within those vehicles, call us today. We can help guide you through the maze of products and find the solution that works for you. 

RRSP Frequently Asked Questions:

How much can I contribute?
You can contribute 18% of your earned income to a maximum of $22,000. However, if you did not use all your RRSP contributions limit for years 1991 to 2010, you can carry forward the unused amount. Your contribution limit could be substantially more than the $22,000 maximum.

Where can I find out how much my contribution limit is?
Your RRSP deduction limit is shown on the latest Notice of Assessment, Notice of Reassessment, or on a T1028, Your RRSP Information for 2011, that Canada Revenue Agency sent you after processing your 2010 return.

Should I be investing in my TFSA or RRSP?
Ideally you should be maximizing both investment vehicles to ensure your
retirement is secure. For those already receiving retirement income, make
your TFSA  contributions early in the year to maximize tax free earnings.

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Nakamun Financial has now merged with ONYX Financial Group.  To contact us directly, we can be reached by phone or email as follows:

Blair Smith
ph. 204-777-6699
em. blair@onyxfinancial.ca

Bob Challis
ph. 204-777-6699
em. bob@onyxfinancial.ca

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