Your financial needs and goals change over time. Major life events can help shape your financial objectives as well as create new ones.

Perhaps you’re setting money aside for a dream vacation. Maybe you’re saving for a new home or trying to fund you child’s college or university education. Or possibly you’re looking to buy a cottage or you want to plan for retirement.

Your Investment Advisor understands that ‘life happens’. So, no matter what stage you are in life, your Investment Advisor can help create and maintain a plan that will meet your financial needs for today, tomorrow and in the future.

Saving for Retirement
After a lifetime of hard work, retirement is the chance for you to reward yourself. So, whether your dream is traveling the world, relax playing golf or spending more time with family, you want to make sure that you save enough to enjoy that lifestyle.

But how much do you need to retire? The question is more complex than it seems, especially when you consider your other financial obligations, such

As part of your retirement planning, Your Investment Advisor will examine how you can you benefit from registered savings plans such as Registered Retirement Savings Plan (RRSP) and Registered Retirement Income Fund (RRIF) and whether you are currently getting the most out of these plans.

Contributions into an RRSP can help reduce your taxable income. Also, you don’t pay taxes on any income you earn on your contributions, until you withdraw money from the plan. That’s also where your RRIF will take over.

Once you’ve reached your goal of retirement, your RRIF acts like your RRSP, but in reverse. Instead of contributing into the registered plan, you now take the money out.

Meanwhile, any income that continues to be generated within the plan, you still don’t pay any taxes. You’re only taxed on the money that’s withdrawn. But once retired, your income is generally lower, so you pay less tax on the money you take out.

Next »