Retirement. Are RRSPs Enough?

A comprehensive plan considers all aspects of your life. Watch the video below to find out how great retirement can sound.

Investments

A great way to add savings to your retirement is incorporating a Tax-Free Savings Account (TFSA) into your plan. This type of account allows your investments to grow without you having to pay any tax on that growth. If you haven’t taken advantage of a TFSA yet, as of 2016, you are allowed to contribute up to $46,500.

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Tax Planning

Living the retirement lifestyle you want means making the most of your retirement income over a longer period of time. We can help you establish effective tax planning and tax management strategies aimed at maximizing your retirement income by reducing taxes and potential OAS ‘clawback’ pressures.

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Mortgage

Will you have a mortgage when you retire? Paying it off before you retire may not be as important as you think. In a low interest rate environment, carrying a mortgage into retirement may be the better option. Talk to us about which option is the best for your situation, so you can get the most out of your retirement.

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Insurance

Spending years building a sound retirement could all be for not if you don’t protect it. Look at the right insurance options for your family, lifestyle, and retirement plans to ensure your future is protected.

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Estate Planning

When thinking about retirement, we sometimes avoid thinking about the end of our life and the taxes associated with it. We can help you think ahead and establish an estate plan now. By clearly stating your wishes for how your legacy should be passed on, you will protect your family and reduce the taxes levied against your estate.

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Retirement

RRSPs are the foundation of retirement planning. There are ways we can help you maximize their benefits. We’ll help you set up automatic monthly contributions or an RRSP loan to take advantage of your contribution room. This could help you increase the size of your tax refund, and also have more tax-deferred money growing inside your RRSP.

Remember, you have until the end of February each year to make your contributions.

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Have Questions

Our advisors will consider your financial goals and help find the path to get you there.

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