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February 2015 eUpdate |
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It's Contribution Time!
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The more you contribute to your RRSP (within allowable limits) and the earlier you do it, the greater the impact of tax-free compounding over time. We advocate that you make your 2015 contribution in January, 2015. Your 2014 contribution
should have already been made.
Where feasible, double up! If you have unused contribution room carried forward from previous years, make that contribution too. Being disciplined about this can make a significant difference to your post retirement years. Our contribution checklist offers suggestions on making the most of your RRSP. Check it out.
Its also time to contribute to your TFSA. Many investors down-played this savings vehicle when it was introduced in 2009, thinking it was too small to worry about. With the total allowable contribution now at $37,000 per person, we believe every client should avail themselves of this tax-free growth opportunity.
We all pay plenty of tax in Canada. Its incumbent on all of us to take maximum advantage of the few tax-free savings opportunities we do have.
Let us recommend the most effective investment strategy for your specific situation. We look forward to serving you.
Very best regards,
Smith Falconer Financial Group
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| CIBC Wood Gundy is a division of CIBC World Markets Inc., a subsidiary of CIBC and a Member of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada. Lois Smith and Rodney Falconer are Investment Advisors with CIBC Wood Gundy in Toronto, Ontario.
The views of Lois Smith and Rodney Falconer do not necessarily reflect those of
CIBC World Markets Inc. |
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