Archive for September, 2014

TFSA or RRSP that is the question

RRSP offers:

  • tax savings at the time most likely earn the most in your life, you are in high rate of tax bracket
  • investing into high return opportunities, like mortgages at 12% will grow your RRSP plan fast
  • profit earned with your RRSP plan is tax free as long as the profit goes back into the plan
  • you can borrow from you own plan and have 15% to pay back tax free
  • at the time you start drawing on your plan, most likely you will be in a low tax bracket, pay low tax
  • you can borrow to contribute to the plan and write off the cost
  • yearly contribution allowed up to 18% of your gross earning

TFSA offers;

  • yearly contribution of $5,500 not as much as RRSP, but it accumulates fast
  • you can take those funds out at any time, use it for any reason and redeposit at any time
  • you pay no tax on what it generates inside the account, take your profit at any time
  • you can not redeposit you profit only the allotted funds, to the ceiling
  • you can fund high yield mortgages and pay no tax on the profit inside the TFSA
  • you will not pay any taxes when you take it out, just like you did not get any tax break when you have deposited to the account, so no matter what level you are be taxed

You be the judge or if you can not make a decision,talk to us, we know all about the ins and outs of these investment vehicles and how to get the most out of them.
Investing your RRSP and or your TFSA funds into high yield mortgage investments will not only provides you with highly secured exceptionally great return, but also provides you with monthly income and tax free profit.What is the best way to go? Ask the experts, visit us online and than call for a FREE consultation session today, saving for your retirement can not be start early enough.
Smart investor retires early, are you one?