Registered Retirement Savings

Most Candian do not save for their retirement and do not know the preferential tax treatment that it receives. An RRSP allows your to defer taxes on some of your earned income. As long as your funds remain within your RRSP, the investment returns are not taxable.

In order to be a successful investor

• one must set goals and objectives for their savings
• use asset allocation
• diversify your investment
• use dollar-cost in your investment
• get professional advise
• finally start early in your investment

Your Retirement Needs Calculator: 

Your Current Retirement Income:  

Registered Education Savings Plan

An RESP is to help parent save for their child's post-secondary studies. The federal government has set up some guidelines.and brought in some incentives to help parents save.

• annual contribution ceiling of $4,000 per beneficiary for a 21 year period
• maximum cumulative amount of $42,000 per beneficiary

The federal government brought in ome incentives to help parents save in 1998, called The Canada Education Savings Grant (CESG)

• CESG is 20% of the first $2,000 in contributions made per beneficiary prior to age 17
• maximum annual CESG is $400
• maximum per beneficary is $7,200
• beneficiary must have a Social Insurance Number and be a Canadian Resident
• certain restriction applies to beneficaries age 16 and 17 years old

To receive some information on this send us a request below.