TFSA vs RRSP

If you are wondering whether a TFSA or a RRSP is better for you, believe me; you would not be the first to ask that question! You may even have one or the other, or both.  And still not know how they really work. If this is you, know this is very common and that’s where a good financial security advisor can help answer these questions. And most important, help guide you to make the best investment options for your future savings goals!

I think we can all agree on one thing for sure…..And that is, NO ONE LIKES TO PAY TAXES!!!!  A TFSA & RRSP are savings plans that can help, depending on your needs and goals.

If you are interested in the flexibility of a TFSA or An RRSP that lowers your tax and also gives you a nice ol' tax refund. Please let us help you make the best and smartest decision for your personal savings goals.

 

**********Important Note**********

You can start making contributions at any time in the year, to an RRSP. But if you’d like to make a contribution for the 2012 year, the deadline is March 1^st 2013.
After the holidays, we know it can be bit more difficult to come up with extra cash at tax time. Not to worry because,  borrowing to save is also an option we offer. You, like many of our clients, can take advantage of our RRSP Line of credit Plan.  Whatever amount you'd like to contribute to your RRSP, that amount is applied directly to the line of credit and you have 120 days before starting repayment on the line of credit.

How our RRSP Line of Credit Plan Works

Contribution   Monthly Payment     12 Months Interest      Tax Savings @ 40%         Total Payment
$ 1,000.       $ 86.07                      $32.80                     $ 400.                        $ 1,032.80
$ 1,500.       $ 129.10                    $ 49.20                    $ 600.                        $ 1,549.20
$ 2,000.       $ 172.13                    $ 65.59                    $ 800.                        $ 2,065.59
$ 2,500.       $ 215.17                    $ 81.99                    $ 1,000.                     $ 2,581.99
$ 3,000.       $ 258.20                    $ 98.39                    $ 1,200.                     $ 3,098.39
$ 3,500.       $ 301.23                    $ 114.79                  $ 1,400.                     $ 3,614.79
$ 4,000.       $ 344.27                    $ 131.19                  $ 1,600.                     $ 4,131.19
$ 4,500.       $ 387.30                    $ 147.59                  $ 1,800.                     $  4,647.59
$ 5,000.       $ 430.33                    $ 163.99                  $ 2,000.                     $ 5,163.99
$10,000.      $ 860.66                    $ 327.97                  $ 4,000.                     $10,327.96
*Our RRSP Investments are insured, and they have a 100% Guarantee of your money at maturity*

LAST DAY FOR YOUR 2012 TAX-SAVING RRSP CONTRIBUTION: MARCH 1st, 2013

Please give us a call or email before the March 1^st Deadline and we’d Love to meet with you and help you make the best decisions for your future savings goals!!

Yours Truly,   Sarah
--
Sarah C. Klassen

-Financial Security Advisor-

& Commissioner For Oaths For the province of Manitoba

204.770.3006

skrealfinancial@gmail.com