Welcome to 2022! With its challenges and successes, it will continue to be the ride of our lives!
With some record yields and corporate prices on their way up, many of you have been turning your focus to income tax and what your tax bill will be for 2021.
We can help, if you have an RRSP with us we can determine your carry forward amount and make a recommendation based on your income for 2021 and determine 1) if you need to contribute, 2) does it make sense to make the contribution based on age and income levels.
If you have RRSP with another investment advisor, we are happy to compare our investment philosophies and how they work for you.
Many Canadian taxpayers over contribute to their RRSP and then have a huge income tax bill later in life and/or a very large estate tax bill with the left over RRIF balance in the estate.
With a simple review of your current situation, we can easily make sound recommendations for your consideration.
The other alternative registered investment is your TFSA. Since 2009, we have had great success with our clients investing in their TFSA plans and have great investment models to choose from. This is not an RRSP, the only similarity is tax-free accumulation, and we are happy to explain the differences, click on the link below for some basic information
We are here to be of service. Let us know if you have questions. If you have your RRSP and/or TFSA plans with us, we will be in touch shortly. Call us if you have questions. If you do not have your RRSP/TFSA plans with us, we are happy to compare your current financial institutions portfolios and give you a written evaluation of cost and performance. In most cases we find the TFSA is under used and the RRSP is overused.
Call us today with your questions, we are here to help.
Your Allied Financial Team
Link to RRSP vs. TFSA