Being Smart with Your Finances Starts with Understanding Your Retirement Plan & Having an Investment Strategy A pension plan is a valuable component to any retirement plan. If you are participating in a pension plan at work, you should be receiving a pension plan statement at least annually from your pension plan provider illustrating the performance of your pension plan. Read your statement carefully, often it will include an estimate of the projected income you could expect at retirement.
The TFSA was introduced to us on January 1, 2009 by the Conservative Government to curb the growing belief that Canadians are becoming inherent spenders, not savers. Since then, the TFSA allows Canadians to contribute in a tax sheltered and ultimately tax-free environment. Any investment growth, interest and capital gains accumulated within the investment are considered effectively “Tax-Free”.
Registered Retirement Savings Plan contributions are arguably one of the most beneficial tax deductions available to Canadians.
RRSP contributions for 2016 must be made by March 1, 2017, and they can be done either in advance or to catch up on a previous year’s available contribution room. Here some information on how to reduce your income tax, and learn more about the maximum contribution limits!
The demographics of Canada are rapidly changing due to the aging Baby Boomers, but what does that mean for the financial wellbeing of other generations, especially Millennials?
We have seen that Millennials are entrepreneurial leaders who are passionate about advancing the economic, social and environmental health of themselves and others. However, unlike other generations, they often start their career with student debt and expensive living costs.