FI Financial

Group of Companies

RRSP

 

R.R.S.P. 's, R.R.I.F.'s, General Rules click here

Choosing the Right Mix (scroll down)

For an outline of annual RRSP and IPP maximums click here.

For a list of the types of qualifying and non-qualifying Canadian incomes click here.

For an outline of the minimum RRIF withdrawals click here.

RRSP or RRIF Withholding Tax Calculation
Withholding tax is applied on the portion of withdrawals in excess of the minimum payment as listed below:
10% for amounts up to $5,000;
20% for amounts $5000.01 to $15,000;
30% for amounts over $15,000.

Individual Pension Plans (IPP) for shareholders of Canadian companies can result in significantly higher annual deductible limits over RRSP's. Secondly, a "kick start" past service contribution can be substantial. For example, a 60 year old can make annual deductible contributions close to $32,000/yr! If he has worked for the company for say 30 years his deductible past service contribution could be $85,000! Questionnaire for Quotation of Individual Pension Plan (IPP)

Practically any type of fixed or variable security can be brokered through a multitude of Financial Institutions. From a G.I.C. to Bonds or Mutual Funds, to instant electronic issue and tax receipts to RRSP loans, we can arrange almost anything.

Or, if you prefer, of course any security, can also be arranged on a non-registered basis (Cash).

We provide a free evaluation of your situation and where you're headed. Consideration is given to your current holdings, RRSP's, personal investments, and/or corporate assets. How much you save or invest each year is analyzed together with your projected CPP, OAS or other pension plans, to provide your retirement picture. We can illustrate any rate of return and inflation rate you would like to see. Do you know how you sit at retirement given today's' rates of return and the long term inflation rate?

Choosing the Right Mix

To help find the balance between risk and return best suited to your financial situation, start by asking these questions:

What are my savings goals? When do I plan to use my money? The "Time Horizon" of your investment is crucial. Money you plan to save retirement should probably not be invested in the same way as money that you will need for next year's tuition. With a long-term horizon, you can take advantage of funds that stress capital growth, while a short-term horizon lends itself to funds that provide the security of consistent income and capital preservation. Determining your savings goals and the time you have to achieve them goes a long way towards identifying an appropriate investment mix.

What is my "Risk Tolerance"?

No investment is risk-free. Equity funds, which emphasize long-term growth, are subject to short-term market volatility. Even fixed income vehicles, like government bonds, can fall prey to inflation and interest rate changes. Still, there are ways to manage risk. Diversification - investing in several investment options - is one way. Investing over the long haul is another. For example, while it is true that equity funds are subject to market volatility in the short-term, the effects of these economic cycles are reduced over time. By exercising patience and taking sensible risk, you improve your chances for higher long-term returns.

 
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Last modified: September 07, 2011