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Five Reasons To Stay Committed To Your Retirement Savings By News Canada (NC)—As an investor working to build your portfolio, you face many day-to-day demands on your money. It's not always easy to determine what your financial priorities should be, or to stay committed to them – especially when markets are volatile. There's one priority, however, that should always be at the top of your list, explains Lisa Li, a Mississauga, Ontario-based CIBC Imperial Service financial adviser: Contributing to a Registered Retirement Savings Plan (RRSP). With its powerful combination of tax deductions and long-term, tax-sheltered growth, the RRSP is still one of the most effective ways for most Canadians to build the financial security they need in retirement.
Li shares the following five reasons to stay committed to your retirement plan:
- Time and tax sheltering. By contributing early to your RRSP, your savings can grow and compound over a longer period of time. Your financial adviser can help you determine how best to allocate your savings between non-registered portfolios and tax-sheltered RRSPs in
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Bel Marra Nutritionals supports a recent study that shows people who... Bel Marra Health, well known for offering high-quality, specially formulated vitamins and nutritional supplements, supports a recent study that shows people who dwell on pain symptoms are more likely...(PRWeb May 18, 2012) Read the full story at http://www.prweb.com/releases/2012/5/prweb9513375.htm ]]>Florida Attorneys of Mara & Mara, P.A. Improve Website to Further... The Daytona Beach law firm of Mara & Mara, P.A. launches an improved website to make it easier than ever to connect with an experienced bankruptcy, family...(PRWeb May 18, 2012) Read the full story at http://www.prweb.com/releases/2012/5/prweb9516211.htm ]]>John P. Donohue Funeral Home Marks Progress with New Website John P. Donohue Funeral Home, a greater Philadelphia funeral home, launched its new website yesterday at http://www.jpdfh.com. Bart Cavanagh, Jr., owner of the John...(PRWeb May 18, 2012) Read the full story at http://www.prweb.com/releases/2012/5/prweb9519586.htm ]]>Private Camping and RV Resort Company Ocean Canyon Properties Receives... Private membership camping and RV resort company earns several awards from the largest RV Resort Network in North America.(PRWeb May 18, 2012) Read the full story at http://www.prweb.com/releases/membership-camping/RV-resort/prweb9520568.htm ]]>Webinar-Sean McKay, VP at American IRA-A National Provider of Self... Sean McKay, Senior Vice President at American IRA-a National Provider of Self Directed IRAs, invites all to a free Webinar...(PRWeb May 17, 2012) Read the full story at http://www.prweb.com/releases/2012/5/prweb9468099.htm ]]>Raising Private Capital Webinar Coming June 1st. American IRA, LLC... Raising Private Capital Webinar coming June 1st. American IRA, LLC announces...(PRWeb May 17, 2012) Read the full story at http://www.prweb.com/releases/2012/5/prweb9492562.htm ]]>
order to achieve greater tax savings. Avoid the catch-up crunch. Many people take advantage of the RRSP "carry forward" provisions, fully intending to make up the difference next year. Delaying your contribution for even one year, however, can have a significant effect over the long term. If you don't have the ready cash to contribute or catch up, you may be able to draw on non-registered savings, make an in-kind contribution, or borrow at a low interest rate. An even better solution is to make sure you reach your maximum contribution each year by committing to a Regular Investment Plan that automatically invests a specific amount into your RRSP on a regular basis, taking advantage of dollar-cost averaging.
Tax savings. If you're in the highest tax bracket, you'll generate a tax benefit of about 45% on the amount you contribute to your RRSP, depending on the province you live in. If you get a refund, you can use it to pay down debt, fund a major purchase, or roll it right back into your RRSP.
Low market values, low interest rates. With current low prices, you may be able to "buy low" and get into the market before the next upturn. In addition, lending rates remain low, which can help you reduce your cost of borrowing if you need help to maximize your RRSP contribution or make use of carry forward contribution room.
Secure your own future. You can't control world economic events or market behaviour. You can help ensure that your retirement is financially secure by contributing regularly to your RRSP.
In today's competitive environment, you have more investment choices than ever. A financial adviser can help you tailor your RRSP portfolio to meet your specific needs.
This article is intended to provide general information and should not be construed as specific advice. This article is not applicable in Quebec.
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News Canada provides a wide selection of current, ready-to-use copyright free news stories and ideas for Television, Print, Radio, and the Web.
News Canada is a niche service in public relations, offering access to print, radio, television, and now the Internet media, with ready-to-use, editorial "fill" items. Monitoring and analysis are two more of our primary services. The service supplies access to the national media for marketers in the private, the public, and the not-for-profit sectors. Your corporate and product news, consumer tips and information are packaged in a variety of ready-to-use formats and are made available to every Canadian media organization including weekly and daily newspapers, cable and commercial television stations, radio stations, as well as the Web sites Canadians visit most often. Visit News Canada and learn more about the NC services.
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According to federal laws governing taxation, any person, receiving an income in one form or the other, need to pay income taxes to the government annually. But, the job of preparing tax returns, the Read more...
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The decision between buying and renting a home is something that many people go through at some point in their lives. However, if you were to go by the word of an expert, the choice would be simple. Read more...
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Bel Marra Nutritionals supports a recent study that shows people who...
Bel Marra Health, well known for offering high-quality, specially formulated vitamins and nutritional supplements, supports a recent study that shows people who dwell on pain symptoms are more likely... (PRWeb May 18, 2012) Read the full story at http://www.prweb.com/releases/2012/5/prweb9513375.htm ]]>Florida Attorneys of Mara & Mara, P.A. Improve Website to Further...
The Daytona Beach law firm of Mara & Mara, P.A. launches an improved website to make it easier than ever to connect with an experienced bankruptcy, family...(PRWeb May 18, 2012) Read the full story at http://www.prweb.com/releases/2012/5/prweb9516211.htm ]]>John P. Donohue Funeral Home Marks Progress with New Website
John P. Donohue Funeral Home, a greater Philadelphia funeral home, launched its new website yesterday at http://www.jpdfh.com. Bart Cavanagh, Jr., owner of the John...(PRWeb May 18, 2012) Read the full story at http://www.prweb.com/releases/2012/5/prweb9519586.htm ]]>Private Camping and RV Resort Company Ocean Canyon Properties Receives...
Private membership camping and RV resort company earns several awards from the largest RV Resort Network in North America.(PRWeb May 18, 2012) Read the full story at http://www.prweb.com/releases/membership-camping/RV-resort/prweb9520568.htm ]]>Webinar-Sean McKay, VP at American IRA-A National Provider of Self...
Sean McKay, Senior Vice President at American IRA-a National Provider of Self Directed IRAs, invites all to a free Webinar...(PRWeb May 17, 2012) Read the full story at http://www.prweb.com/releases/2012/5/prweb9468099.htm ]]>Raising Private Capital Webinar Coming June 1st. American IRA, LLC...
Raising Private Capital Webinar coming June 1st. American IRA, LLC announces...(PRWeb May 17, 2012) Read the full story at http://www.prweb.com/releases/2012/5/prweb9492562.htm ]]>
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includes actual project cost by activity, financial management (including disbursement issues), and co-financing. If a financial audit has been conducted the major findings should be presented in the TE.
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