 |
 |
|
January 2014 e-Update |
 |
A New Year and our Q1 Newsletter
| |
 |
With the New Year upon us, the time is right to highlight RRSPs and TFSAs, and their respective benefits as savings tools towards retirement and achieving your financial goals. RRSPs are tax deferred until withdrawn from the plan. TFSA contributions grow tax free, and withdrawals are not subject to tax.
It is very important to have a proper plan in place in order to retire comfortably. January is the time to maximize contributions to both plans. The 2013 RRSP limit is $23,820 and will increase to $24,270 for 2014.
The annual TFSA contribution limit is $5,500 with a cumulative total of $31,000. We draw your attention to the article on page 4 of our Perspective Newsletter for more on the topic.
This month is also a good time to review your designated beneficiaries to ensure that they properly reflect your current wishes.
We would be happy to discuss the merits of both these subjects with you and to review your portfolios.
Wishing you all a very happy, healthy and prosperous 2014!
Very best regards,
Smith Falconer Financial Group
|
| 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. |
|
|
