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Tick Tock: RRSP Season is Here!
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I am continually amazed at the number of people, who have high incomes and savings, that fail to take full advantage of the preferential tax treatment of RRSPs versus other types of investment or savings accounts. This is especially true for business owners who often have retained earnings in their corporations while also having massive amounts, sometimes $50,000 or more, in unused RRSP contribution room.
With the recent Federal Government’s rewriting of tax policies for business owners, it is especially important to review fundamental tax planning...
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| Procrastination - Your Financial Dream Killer |
Despite what many people think, the number one financial dream killer isn’t portfolio losses, or financial emergencies, or unemployment, and not even natural disasters.
The number one reason people fail to reach their financial goals is procrastination - putting off the inevitable until the cost of your dreams or goals become prohibitively expensive.
Why People Procrastinate
Fear of failure: Some people view their aspirations with dread because they don’t think they will succeed. Others are just afraid to try...
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| Don’t Bet Your Retirement on a Simple Approach |
You have probably heard about the old 70 percent rule that suggests retirees will need the equivalent of about 70 percent of your current income level to maintain their lifestyle in retirement. This assumes that your retirement living costs will be 30 percent less than during your working years.
While it may have been applied appropriately for retirees two or three decades ago, it is fraught with significant risk and potential disaster for today’s retirees.
Overly simple formulas have no place in serious retirement planning, especially when you consider that people are living longer than their parents or grandparents...
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Maybe everyone can live beyond what they’re capable of.
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Markus Zusak
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Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Please read the prospectus of the mutual funds in which you invest. The information in this email newsletter is general information only and is not intended to constitute specific legal, accounting, financial or tax advice for any individual.
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Adnan Associates Inc.
2 Robert Speck Parkway,
Suite #750 - Mississauga, ON L4Z 1H8
Ph: (416) 312-1628
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