Be above average and contribute before the March 1st, 2022 RRSP deadline!
You don’t need to decide the specifics of investing that money right away. You will earn the tax deduction as soon as the contribution is complete. If you’re not comfortable making investment decisions or if you are just starting out, we can add to your financial knowledge and build skills at your pace. You can make investment choices when you have a better sense of your risk tolerance which will increase your confidence.
The first advantage of this strategy is the tax deduction off last year's total income. How much did you make? Income like CERB, spousal, RRSP withdrawals, etc. all added to your total. Your RRSP contribution reduces your taxes payable. That helps keep more money in your pocket to pay for those more expensive 2022 groceries!
Did you know your money can grow tax free until you need it in retirement? This is the second benefit which I help you with. You need lifelong money management strategies to ensure you leave that money for an extended period to help you reach your goal. When life triggers a "quick cash solution", work with a financial coach, advisor, or credit team, to explore other opportunities and leave the RRSP intact.
Learn more visit https://www.fenskefinancialcoaching.com/