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Now is a great time to re-visit your portfolio. Investing too conservatively could impact your ability to reach your long-term goals. In fact, you could actually be losing money once you factor in inflation, especially in today's low interest rate environment.
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It's an opportunity for people to reduce their income and maybe enjoy a nice tax refund.
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When most working Canadians hear "RRSP," they think of their retirement savings. Or maybe even a nice winter home on the shores of sunny Florida. However, a Registered Retirement Savings Plan (RRSP) is more than just a retirement savings plan. It also has an impact on your tax obligation and can save you hard earned dollars come tax time.
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Consider a rainy-day savings fund instead.
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The first major financial deadline of 2016 is February 29. This is the last day you can make a contribution to your Registered Retirement Savings Plan (RRSP) and claim the contribution on your 2015 tax return. You still have the first 60 days to make contributions but with the leap year, the deadline is midnight at the end of the month.
It's February, folks, and you know what that means. Taxes... Yeah, yeah, Groundhog Day, Valentine's Day, 2016 leap year and all that. But it's also the time of year when people wake up to the fact that, oh crap, tax deadlines are looming, and that they better get their act together to reduce their tax bill -- not to mention their stress level.
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OTTAWA — As Canadians review their year-end investment statements and prepare to meet with their financial advisers ahead of the RRSP deadline, stock markets are taking a rocky ride. Amid the market t...
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This year's RRSP deadline is Feb. 29.
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Today, it takes more brains and effort to make out the income-tax form than it does to make the income. - Alfred E. Neuman 1) Prioritize Three Contributions RRSP Offers best tax sheltering option for...
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With the deadline looming, you may wonder how much you can contribute to your RRSP. The simple answer is 18 per cent of your income, each year, but of course there are some additional details to understand.
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Wait until next year, and it may cost you money.
Financial experts say it's important to plan before making RRSP contributions. The president of the non-profit Investor Education Fund suggests making small contributions throughout the year rather th...
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If you suffered a critical illness and if money were no object, I am sure all of us would spend every last dime we had to recover and get on with our lives. Sadly, most of us are not in such a position. Therefore, where would one get the money if there were no bottomless money pouch available? Here are some ways you can use critical illness insurance to fill a financial void.
With only about one third of Canadians making an RRSP contribution according to the Sun Life Annual Check-up Survey, make this year the year that you start to reap the benefits of your RRSP. Top up your RRSP before March 3 and make an appointment with your advisor to plan how best to invest your tax refund (or tax savings). Your tan may suffer but your net worth will thank you.
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As RRSP season closes and many Canadians prepare for tax time, a CBC Marketplace investigation reveals that financial advisers at some of Canada’s top banks and firms are giving consumers inaccurate,...
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The deadline to contribute to a Registered Retirement Savings Plan (RRSP) is drawing near, and apparently quite a few Canadians are leaving their contributions to the last minute. Thirty-one per cent...
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The average Canadian millennial is saddled with debt thanks to unemployment and rising tuition costs. According to the Canadian Federation of Students, students in Ontario and the Maritimes average over $28,000 in debt. If you're in this position, focus on paying off all your debt first, while putting a small amount into your RRSP.
Each year you are required to take out a portion of your savings from your RRIF, which is subject to tax, but there's no limit on how much you can withdraw. In addition you can name your spouse as a beneficiary, so RRIF assets can be transferred to your spouses' RRIF or RRSP on your death. You can't keep your savings in an RRSP forever.
With the Canadian debt-to-income ratio at an historic high, one can only hope that our collective access to information is enabling Canadians to do a better job at aligning their actual behaviours with their stated goal of debt reduction in 2014.
This year’s deadline for RRSP contributions is coming up on March 3 — the last day you can contribute 2013 earnings to a retirement savings account. But will you be among the growing number of Canadia...
If you're looking to get a tax break on your 2012 income, keep in mind that RRSP deadline day in Canada is March 1. For many of us, getting the spare cash together to make any donation at all may be e...
Forget Freedom 55 or even 65. The vast majority of Canadians surveyed in a new poll don't expect to retire before age 66. And the number of Canadians who believe they'll be done with work in the year...
TORONTO - A majority of Canadian respondents to a recent poll say they plan on putting money away for retirement this year, but the likelihood of that actually happening is considered slim.The study,...
MONTREAL - Canadians who are stressed about the annual RRSP deadline are not alone according to a new study that found 60 per cent of respondents feel anxious about coming up with the money for their...
With the Feb. 29 RRSP deadline looming, many Canadians find themselves rushing to their respective financial institutions to make last-minute contributions. They can blame part of their procrastinatio...