With the TFSA having become a worthwhile option for your clients, it’s time to consider whether an RRSP has the same allure as it once did for certain investors
Take the opportunity to plan next year’s contributions
The average contribution for those who have already contributed was $3,984
Almost eight in 10 Canadians between the ages of 18 and 33 are unaware their RRSPs could help them buy their first home or help them go back to school, TD survey finds
Families in which one spouse has no or little independent income may find that using a spousal RRSP remains a helpful way to split income. Knowing that the non-earning spouse has assets in his or her own name also can be a comfort
A new OSFI report also finds that the use of registered pension plans dropped, in percentage terms, during the past 10 years
Tax professionals recommend that clients make maximum contributions to their TFSAs- by making withdrawals from RRSP or RRIF assets if no other funding is available. But it should be done in a tax-efficient way
Canadians cite not having enough money as the top reason for not contributing
With just hours to go in this year’s RRSP deadline, emphasize retirement savings over debt repayment
Get clients to start planning for next year’s RRSP season