Disclosure: This is a partnered post with Tangerine Bank. However, all opinions and views on this post are 100% my own.
Tax time is quickly approaching. Are you ready for it? Tax time is a great time to look at your finances. We have created a list of things you should consider at this time. Part of your financial plan should include a saving and investing plan. You need to save money so that you have money to invest. Then you need to invest your money so that your money grows for you. The value of $1 saved today will not be the same in 10 – 25 years. Do you think a loaf of bread today will be the same in the future? You lose the purchasing power of your savings with each year.
- Differences between #RRSPs and #TFSAs and how they will work best for you
- Make a note of the RRSP contribution deadline so you that you don’t miss it
- Look at the new contribution limits for TFSAs to take advantage of the tax savings
- Look at setting up pre-authorized contributions to make saving/investing easier
- Determining the percentage of your paycheque that should be allocated to pre-authorized contributions
- Understanding the reason you need to invest
- Learning to deal with market volatility
- Taking the time to read your year-end investment reports
- Understanding your needs as you approach retirement
- Understanding sources of retirement income other than the Canada Pension Plan
Have you been thinking about RRSPs and TFSAs?
Join the #RRSP and #TFSA Ready Twitter Chat
Date: Tuesday, February 5, 2019
Guest: @JoePSnyder and Brian Ong
Moderators: @ShesConnected @GingerMommy @LittleMissKate @
Prizing: $500 in prizing ( 5 x $100 Gift Cards)
No RSVP Required
Eligibility: Anyone can participate in the Twitter Chat however only those who reside in Canada, excluding those who live in the province of Quebec, can win prizes.