416 388 8360

Email : info@inismore.ca

Brokerage # 12668

registered-investments

 

Registered Retirement Savings Plan (RRSP)

A Registered Retirement Savings Plan (RRSP) is a personal savings plan that allows you to save for your retirement in a tax shelter.
RRSP provides two key benefits:
- It allows you to invest in a tax shelter environment. Hence, any income that is generated by the investment stays within the plan and there is no immediate deduction of taxes on the income.

- RRSP provide a higher tax refund which is based on your tax bracket.

 

Spousal RRSP

If you are married or in a common-law relationship, you may choose to direct some or all of your RRSP contribution to a spousal plan. You will still get the tax deduction, but the plan is registered in your spouse's name. Your contributions to a spousal plan do not affect your spouse's contribution limit to his or her own plan.

 

Why would you want to contribute to a Spousal Plan instead of your own?

If you and your spouse earn different levels of income, a spousal RRSP may be an effective way to "split income" over the long term. To do so, the spouse who is expected to have a higher level of income at retirement should make the contribution to a spousal RRSP. Hence as a family you pay less tax. This will also help you build a nest egg that will provide each of you with a source of income in retirement.

For more information and detailed discussion,
please call – Jerry Chandane, Financial Advisor @ 416 388 8360

 

Registered Retirement Income Fund (RRIF)

RRSP accounts can be converted into RRIF account to set up monthly income generation. It becomes mandatory to convert RRSP to RRIF in year a client turns 71 years old. Client can still retain the same mutual funds investments that he/she held in an RRSP account. The only difference being that an income is generated with is counted towards the annual income for tax purposes. Client can decide how they prefer to receive this income.

For more information and detailed discussion,
please call – Jerry Chandane, Financial Advisor @ 416 388 8360

 

Locked in Retirement Account (LIRA)

Generally, pension funds are transferred into a LIRA account. Pension transfer comes up for discussion when the client has retired or loss/ change of job.

We offer advice on the pension transfer process and explanation of various options that are placed before the client.
Client can invest these funds in several mutual fund solutions. Please click here for investment options
For more information and detailed discussion,
please call – Jerry Chandane, Financial Advisor @ 416 388 8360

 

Tax Free Savings Account (TFSA)

A Tax-Free Savings Account (TFSA) is a flexible investment account that can help you meet both your short- and long-term goals. Investment income in a TFSA—whether you're earning interest, dividends or capital gains—are not taxed, even when withdrawn. This tax- free compound growth means that your money grows more quickly inside a TFSA than in a taxable account.

For more information and detailed discussion,
please call –Jerry Chandane, Financial Advisor @ 416 388 8360

 

Investment Options

There are several mutual fund and GIC investment options that we offer for your RRSP, Spousal RRSP, RRIF, TFSA, LIRA and Non Registered investments. Some of the common offerings are Fidelity mutual funds, Templeton mutual funds, Mawer funds, RBC funds, TD funds and several other five and four star rated funds which provide superior returns for a given level of risk and time horizon.

For more information and detailed discussion,
Please call – Jerry Chandane, Financial Advisor @ 416 388 8360

 

 

Mutual funds products are offered through Investia Financial Services Inc.

Commissions, trailing commissions, management fees and other expenses may be associated with mutual fund investments. Please read the Fund prospectus carefully before investing. Mutual fund investments are not guaranteed, their values change frequently, and their past performance may not be repeated.

Mutual funds are sold exclusively by mutual fund representatives who are licensed by Provincial regulators and registered with Investia Financial Services Inc. (Investia). Investia does not provide or distribute any advice or product other than those that are directly related to the sale of mutual funds. Any representative who provides or offers other advice or services must hold the necessary licenses and deal with entities (other than Investia) that are duly registered with the competent authorities.

 

 

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