BY INVESTING REGULARLY, YOU CAN MOVE STEADILY TOWARDS YOUR FINANCIAL GOALS AND THE RETIREMENT LIFESTYLE YOU WANT. Here are five ways to better save for your retirement: 1. Understand how tax sheltering works Your investments grow tax-free within your RRSP, providing the potential for increased growth opportunities. You can enjoy immediate tax savings because an RRSP allows you to deduct the amount of contribution from your income on your tax return. 2. Start early It may not

ARE YOU GETTING A TAX REFUND? HOW ARE YOU GOING TO USE THE EXTRA CASH COMING YOUR WAY? As another tax reporting deadline approaches, the hope is that you have maximized all your income tax deductions and will be receiving the maximum allowable refund. Here are four sensible ways to put that money to use: 1. As your mortgage is likely the biggest debt you have, paying down some of the principal will help save on interest charges, as well as whittling away at the remaining bala

The Tax-Free Savings Account (TFSA) is a powerful tool for millennials, who should maximize their contribution room to build a tax-free retirement surplus that is potentially increased by the longer compounding time afforded to the young. Here are six reasons to consider the TFSA tool in tax planning: 1. Family Income Splitting There is no attribution rule attached to the TFSA because resulting income is tax exempt. So this is a great opportunity for a higher-earning spouse t

What you invest in has a significant impact on the rate of growth of any investment. Likewise, investments that feature tax-exempt or tax-deferred income will grow faster. Tax efficiency also provides a hedge against inflation, particularly if it increases rates of return that can exceed inflation rates. Here is our recommended order of investing, starting with the most tax-efficient. Priority 1 Pre-tax capital: Registered Retirement Savings Plan (RRSP), Registered Pension Pl