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A small change can make a major difference

Saving for your retirement doesn’t have to be difficult. In fact, many Canadians don’t realize how easy it can be to increase the size of their retirement savings. Take a moment to consider the chart below.

The first bar of the chart shows the possible growth of investments within an Investors Group registered retirement savings plan (RRSP) over 20 years if you contribute $400 per month*. The other bars show the impact of contributing $600 and $800 respectively. The differences in the end values clearly show the benefits of taking full advantage of the tax-deferred growth RRSPs can provide – so that you can retire in comfort without any major changes to the lifestyle you enjoy today. What’s more, by making the maximum contribution possible, you could lower your annual income tax assessment at the same time! However, you need to be sure you are not exceeding your accumulated unused RRSP contribution room as assessed by the Canada Revenue Agency.

Increase your RRSP contributions. Lower your taxes today. Enjoy retirement.

At Investors Group, our primary focus is to give you advice to help you discover – and take advantage of – ways to help you live your life better today and give you the most choice in the future. All you need is a carefully laid-out and customized plan that we can prepare together. After, you’ll feel confident you can continue to enjoy your current lifestyle while you’re saving for your retirement years.
Talk to an Investors Group Consultant today. We will explain your options for lowering taxes right now and explore the potential rewards you can look forward to in retirement.

* Projections of future RRSP values are based on a compound annual growth rate of 6.5% over a period of 20 years. The rate of return shown is used only to illustrate the effects of the compound growth rate and is not intended to reflect future values or returns on investment. Quoted numbers are based on the assumption that the investor is reasonably comfortable with market volatility. Commissions, fees and expenses may be associated with mutual fund investments. Read the prospectus before investing. Mutual funds are not guaranteed, values change frequently and past performance may not be repeated. Trademarks, including Investors Group, are owned by IGM Financial Inc. and licensed to its subsidiary corporations.