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smart investor retires early, are you one?
and the best of all it is RRSP and most registered funds eligible investment:
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An RRSP is simply a savings strategy for your retirement that allows you to
invest on a tax-deferred basis. Your contributions to the plan are allowed to
accumulate, along with investment income on a tax-free basis until the
funds are withdrawn during your retirement years.
Although the funds will be fully taxable at that time, this will be during a
period of lower income and your tax rate will likely be lower.
Within your plan, all income generated by your savings are tax free as long as
the profit is directed back into your account. Imagine, your hard earned money
is sheltered from paying tax and even creating you profit...
can it get any better than this?
One investment strategy is to contribute as much as you can to your RRSP each
year.
Check your latest income tax notice of assessment (issued by Revenue Canada) to
find out your maximum contribution for the year or the previous years if you
have not used the maximum.
MOST IMPORTANTLY, YOUR MONEY SHELTERED FROM THE
TAXMAN, WILL BRING YOU INTEREST ON INTEREST FOR YEARS...
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The benefits of self-directing RRSP account
You will be in control and we think it is a good enough reason. There is no one
on this word can take care of your hard earned money, than yourself. Don't let
anybody tell you different.
Product selection. There are a number of
products/investments that qualify for a Self Directed RRSP. You can choose from
conventional investments like GICs, Bonds, mutual funds and stocks.
Self-Directed RRSPs also allow to invest in mortgages, small business
corporations, and other non-conventional investments. Self-Directed RRSPs do
give you a choice and control over product selection.
According to our research, every company has good products and bad products. If
you have all your investments with one company, you are likely to have good
products and bad ones.
One of the goals of having a Self-Directed RRSP is to try to determine the
strengths of different companies (what are they really good at?) and try to
select products that play to their strengths. I belive diversification by
company is best done with a self-directed plan..
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redefine your retirement
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..and your money never sleeps,
so you can...
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SMART INVESTING IS NOT A MATTER OF LUCK, BUT A
RESULT OF DELIBERATE PLANNING
We all work hard for our money, so when it comes to investing we
naturally want to make our money work hard
for us.
Today we have multitude of options. Add to that different investment style -
simple and straightforward at one end of the spectrum to highly sophisticated
at the other.
The fact is, you're in a great position - you have
money to invest and that's an exciting prospect. Being
knowledgeable is the first step toward making wise investment decisions.
An investment is simply a vehicle into which you put your money in order to
earn a return or profit (i.e. investment income). Typical investments include
stocks, mutual funds, bonds, GICs and Private
Mortgages.
Whether your goal is a comfortable retirement, a good postsecondary education
for your children, a new home, your own business or even a holiday, the
sooner you begin planning, the better yor chances of success.
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