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Glossary of
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Supplemental Employee Retirement Pension Plans (SERP)
Supplemental pension plans for senior executives are becoming extremely popular. Those individuals in the higher income brackets are not able to make the full 18% contribution to their retirement funds because of the legislative ceiling imposed by the RRSP and pension limits. The SERP gives these individuals a method of topping-up their retirement savings.


RRIFing with insurance: an Advisors point of view
As the year 2005 draws to an end, revisiting RRIFs is an excellent strategy if your in the 69 plus group. Many individuals in this age group find that the time to roll over their RRSPs into RRIFs is very stressful, because it means that it is time for them to start chipping away at the capital they have spent a life time building. They often forget that the government may be entitled to as much as 48% of the tax savings they enjoyed (depending on their marginal tax rate and the province of residence).


LIFs, RRIFs, and other IF's
Now that LRIFs are available as another retirement investment product, (in addition to RRSPs, RRIFs, LIRAs, LRSPs, LIFs and DPSPs) there may be some confusion about just which one is best for you. Here are some reminders to follow.


Individual pension plans can generate healthy tax savings and peace of mind throughout retirement
Are you over 40 and earning a sixfigure income? Why not consider looking beyond a Registered Retirement Savings Plan (RRSP) to build your nest egg. For the right person, Individual Pension Plans (IPPs) can generate significant tax advantages beyond those provided by an RRSP. Additionally, an IPP can also produce higher pension benefits.


Planning Income Mixes for Tax-Astute Retirees
Retirees can and should use the tax system to their advantage in structuring income to preserve capital. An important way to do this is to plan an income mix that is tax efficient. Retirees face many tax obstacles when the income mix is wrong. Most middle-income Canadians are subject to clawbacks on tax preferences such as the age amount, or on social benefits like Old Age Security. They also suffer “time value of money” problems when they unnecessarily “pay forward” taxes on compounding annual interest returns earned outside registered accounts and, possibly, quarterly tax installments.


Avoid RRSP Overcontributions
If you contribute more than your contribution limit, you will be subject to a 1% penalty tax per month to the extent that the overcontribution amount exceeds $2,000. This penalty tax is expensive, ensuring that it is not worthwhile to make overcontributions above this limit.


Annuity Taxation
Annuities, like any other investment, are subject to tax. The taxation of annuities will depend on the type of funds used to purchase the annuity, and whether or not the annuity was purchased on a tax deferred "prescribed" basis. Below is a brief description of the different methods of annuity taxation.


LIFs, RRIFs, and other IFs
Now that LRIFs are available as another retirement investment product, in addition to RRSPs, RRIFs, LIRAs, LRSPs, LIFs and DPSPs, there may be some confusion about just which one is best for you. Here are some reminders to follow.


Annuity Taxation
Annuities, like any other investment, are subject to tax. The taxation of annuities will depend on the type of funds used to purchase the annuity, and whether or not the annuity was purchased on a tax deferred "prescribed" basis. Provided in this article are brief descriptions of the different methods of annuity taxation.


RSP Investing Strategies
One of the best ways to maximize your RSP contribution each year is to set aside a specific dollar amount every month. Many people refer to this strategy as "paying yourself first". All you have to do is set up a monthly pre-authorized chequing plan. Your bank account will be debited on a monthly basis and the money directed to one or more mutual funds. You will be surprised at how quickly your retirement nest-egg starts accumulating.


Innovative strategies for a worry-free retirement
Recent market volatility and lowering interest rates may be making some retired investors concerned about the future of their retirement income. Through innovative annuity strategies, you can receive a more worry-free retirement that includes a guaranteed income stream.


Is the RRSP dead?
With the recent reduction of the capital gains inclusion rate to 50 percent from 75 per cent, many advisors and their clients are asking themselves the question: "Is the RRSP dead?".


Tips and more to help you make the most of your RRSP!
Investing in an RRSP is one of the most important investments you can make. As a general rule, it is never to early to plan for a successful retirement and as long as you have not reached retirement age, it is never to late to start to save.


Registered Retirement Savings Plans: More than just a tax break
Registered Retirement Savings Plans (RRSPs) are well known for their ability to provide an immediate tax deduction but they are also popular for their longer-term benefits, being the investment of choice for those looking to save money for their retirement.


RRIF - Registered Retirement Income Funds
For those who have invested money in an RRSP, the year you turn 71 is a very important one. A major decision awaits you as you must either cash in your RRSP or convert it to a post-RRSP plan such as a Life Annuity or RRIF. Fortunately, for those who would like to retain control over their investment, the choice gets easier.


Calculating your retirement needs
An important step in retirement planning is calculating how much money you will need to continue to live comfortably in the years after you retire. Although the final total may seem excessive right now, it pays to keep in mind the fact that these savings represents your income over the span of your retirement. How much income will you need to retire and how do you plan to save it?


Factors to weigh when choosing your RRSP investments
Choosing RRSP investments can be difficult and is not something that should ever be taken lightly. But with so many products available, how do you know what is right for you? With each company promoting their product as "the best one for you", it can be hard to know where to look, but the answer lies with you. Make the right choice by answering a few simple questions.


RRSP contribution or mortgage repayment?
When it comes to making a decision between making an RRSP contribution or paying down a mortgage, there is no easy answer. On one hand, we all know the importance of starting early to save for retirement but it can also be tempting to eliminate the mortgage debt, which is the largest debt that most of us will ever incur. The solution: Combine the two for the best of both worlds.


Women and RRSPs: Just do it!
With the dawning of a new millennium, the days of a women depending on her spouse or the government for retirement provisions are long gone. In today's society, where women often view marriage as an option rather than a necessity, most women accept the responsibility of maintaining and planning for their own financial future.


Where retirement is concerned, borrow for tomorrow
When planning for retirement, the perfect scenario involves us starting our RRSP contributions at an early age and investing the maximum allowable each year. Unfortunately, reality has a way of intruding, making maximum annual contributions unlikely if not impossible. If this sounds like you, look into borrowing to make RRSP contributions and plan for a secure financial future.


Why RRSPs should be the cornerstone of your portfolio
In addition to being known as a great way to save for retirement, RRSPs are also one of the most useful tax shelters available to Canadians today. Since retirement planning and tax savings are important to almost everyone, it makes sense to make RRSPs the cornerstone of your investment portfolio.




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Companion Advisor
Retirement Planning
Individual pension plans can generate healthy tax savings and peace of mind throughout retirement

LIFs, RIFs and other IFs

Annuity Taxation

RSP Investing Strategies

Innovative strategies for a worry-free retirement

Is the RRSP dead?

Tips and more to help you make the most of your RRSP!

Registered Retirement Savings Plans: More than just a tax break

RRIFs:- Registered Retirement Income Funds

Calculating your retirement needs

Factors to weigh when choosing your RRSP investments

RRSP contribution or mortgage repayment?

Women and RRSPs: Just do it!

Why RRSPs should be the cornerstone of your portfolio

Where retirement is concerned, borrow for tomorrow



The Money Management Newsletter:
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RRSP Planning
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