RRSP : Time is NOW !!

As Baby boomers reach their retirement years, many are finding out the retirement income they are relying on is falling short of their goal. As a result, many people are postponing retirement in order to offset their savings are shortfall. This trend will worsen as employee pension plans come scarcer and provide retirees with fewer income guarantees.

With studies indicating that many Canadians are not financially prepared for retirement, why aren't we taking full advantage of our Registered Retirement Savings Plan (RRSP)?

Some of the reasons include: • it rarely feels like the "right time" to save it for retirement - there are always at other financial priorities let's see more important than retirement savings.

• many Canadians assume that the government's sponsored retirement income programs will provide them with enough income to meet all their financial needs.

While gov't income programs make up a component of a retirement plan, they do not provide the level of income that most Canadians strive for during retirement. Making retirement savings a financial priority will help you achieve the retirement income and lifestyle you want.

Contributions can be made within the first 60 days following tax year.

The RRSP contribution limit is:

• 18% of earned income up to a maximum that is set annually by Canada Revenue Agency (CRA)

• plus any unused contribution room from previous years

• less any pension adjustments from the employer pension plan contributions

It's time to invest in your future-talk to your financial advisor about Guaranteed Investment Income Funds.

There are 34 different companies in Canada that offer these, you can talk to all of them, (years) or tlak to a corp that has access to all of them. Advisor & co is one such company, All corporations compared through one Major Firm. Contact our team member at Advisor & Co Today. Click Here

Now, enjoy the tax benefits today, then build yourself a more financially secure retirement for tomorrow.