Whether you’re building up or winding down your investments, there are several ways to grow your retirement savings, reduce taxes and make the most of your money.
Treat your money to a tax break with the following registered plans.
With a Registered Retirement Savings Plan (RRSP), you can save for retirement and reduce the taxes you pay while you’re still working. You can contribute to an RRSP through December 31 of the year you turn 71.
With a Tax-Free Savings Account (TFSA), you can save for anything—including retirement (although contribution limits do apply). It’s also a great option if you're already retired because you don’t have to earn an income to contribute to it.
Think of a Registered Retirement Income Fund (RRIF) as an extension of your RRSP, but instead of putting money in, you withdraw from it to use throughout retirement. It’s one of the more popular options when converting an RRSP.
Compare your income and expenses to see if you come up short.
See how putting money regularly in an RRSP can grow your retirement savings.
Estimate the minimum withdrawal you could receive from your RRIF.
For a private consultation, or for help designing your retirement plan, please complete the information required below:
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