"A goal without a plan is just a wish."
Antoine de Saint-Exupéry
Head Into Retirement Confidently
Manulife goals-based investing - A program that focuses on the retirement stage of life.
Please contact me for further information on this exciting new program. Let's plan for the "What If's" in life.
Registered Retirement Savings Plan (RRSP)
An RRSP is a retirement savings plan that you establish, that is registered with the Canada Revenue Agency, and to which you or your spouse or common-law partner contribute. Deductible RRSP contributions can be used to reduce your tax.
Any income you earn in the RRSP is usually exempt from tax as long as the funds remain in the plan; you generally have to pay tax when you receive payments from the plan.
To learn all the facts, please contact us.
Life live to the fullest
The good news is that Canadian life expectancy is rising. Modern science and healthy living have resulted in the average life expectancy reaching over 85. However, the longer you live, the greater risk of outliving your retirement savings. It’s no wonder that recent statistics are indicating that more than 60 percent of Canadians are worried about having enough money to see them through retirement. Click here to learn more.
Registered Retirement Income Fund (RRIF)
A RRIF is a fund you establish with a carrier and that is registered with the Canada Revenue Agency. You transfer property to the carrier from an RRSP, RPP, or from another RRIF, and the carrier makes payments to you. Establishing a RRIF can be done at anytime, but must be done no later than the year the annuitant turns 71. Once a RRIF is established, there can be no more contributions made to the plan nor can the plan be terminated except through death.
You can have more than one RRIF and you can have self-directed RRIFs. The rules that apply to self-directed RRIFs are generally the same as those for RRSPs.
For more information, please contact us.
Source: Canada Revenue Agency
The decisions we make each day are deeply influenced by preconceptions and emotions. The Fall edition of Solutions focuses on the effect our emotions can have when it comes to making decisions about finances. Features include: Being aware of cognitive biases can help us make better investment decisions; How an advisor can bring you closer to reaching your financial goals; Investment loans 101; Living solo; and more.