Investment Planning

What is Investment Planning?

REGISTERED RETIREMENT SAVINGS PLAN [RRSP]

An RRSP has a unique tax structure allowing you to defer paying income tax on your RRSP deposits until the money is withdrawn. There are a number of different options for RRSP investments.  RRSPs are the cornerstone of retirement planning for most Canadians and DID YOU KNOW our federal government introduced them in 1957 to encourage saving for retirement. One of the most important things you need to decide when saving for retirement is how much money you’ll need to live on when the time comes.

TAX FREE SAVINGS ACCOUNT (TFSA)

A TFSA is a way for individuals who are 18 years or older to set money aside, tax free, throughout their lifetime. There are a number of investment options available for a TFSA. You don’t pay tax on the growth or on withdrawals from the investments.

OPEN INVESTMENTS

These are non-registered vehicles for investing which means there are no restrictions on the amount to put into the investments. There are a variety of options for these type of investments.

 We have the tools to help you build a portfolio and can advise you on the different plans available as well as the contribution limits for the investments. Our goal is to help you meet your financial goals!

REGISTERED EDUCATION SAVINGS PLAN [RESP]

RESP is a dedicated savings plan for post-secondary education. Saving for your child’s or your grandchild’s future is even more important now that post-secondary education costs are on the rise. RESPs offer a helpful way to maximize the money available to your children or grandchildren upon enrollment in a full-time post-secondary program. Although contributions aren’t tax-deductible, the money in the plan grows tax-free until it’s withdrawn.

INSURED RETIREMENT PLAN (IRP)

Brief:

The Insured Retirement Plan is a retirement tax strategy that uses life insurance in 3 distinct tax-advantaged ways.

Full

The Insured Retirement Plan is a retirement tax strategy that uses life insurance in 3 distinct tax-advantaged ways.

Tax advantage #1 – Tax Sheltered Growth. 

Tax Advantage #2 – No Taxes on Withdrawals.

Tax Advantage #3 – Loan + Interest Paid Off Tax Free.  

The IRP strategy starts with the purchase of a universal life insurance policy. During the income earning years, deposits are made into the investment portion of the policy, where they grow on a tax-sheltered basis. Upon retirement, rather than withdrawing the investments as income, instead the policy is used as collateral for a loan. The loan is used as tax-free income upon retirement. Upon death the outstanding balance of the loan is paid by the insurance policy.

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Email

roy@kardiafinancialadvisors.com

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