Financial Services
A registered retirement savings plan (RRSP) is a flexible, attractive savings tool. It not only reduce your tax bill, it enables you to accumulate significant amounts and to defer income tax on your investment returns. The sooner you start saving, the more quickly your savings will start working for you.
Who should consider an RRSP?
Any person under the age of 69 who has employment income.
Features & Advantages
- Deduction of the amounts paid from your taxable income.
- Income tax deferral on your investment income.
- Protection against financial market fluctuations may attain and even exceed 100% of the capital invested.
- You can protect your savings against potential creditors*.
- Possibility to increase your contributions through different RRSP line of credit
- Payment by pre-authorized cheques by your wish.
- No annual administration fees
*Certain conditions apply.
Under the regulations, an RRSP must be converted to a registered retirement income fund (RRIF), or another retirement income instrument by December 31 of the year you turn 69.
We live at a time when post-secondary education costs are becoming higher and higher, while government support lower and lower. Students and their parents are left to make up the difference.
That's where a Registered Education Savings Plan can help. It will allow you to put money away for your child's university or college education.
Make Your Child's Dream Come True
For every dollar you invest in your child's RESP for post-secondary education the government contributes 20? - up to a maximum of $400** per child per year. It is actually a reward for you when you save! It's not all! The money you invest is tax-sheltered, so you and your child both win!
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The main idea of mutual funds remains the same after more than 80 years: people pool their money together to invest in a portfolio of securities, usually either stocks or bonds or a combination of both, which is managed by an investment professional.
Advantages of Mutual Funds:
Diversification: mutual funds invest in a broad range of securities and asset classes
Professional Management: specialized knowledge and research in buying & selling securities
Convenience: benefits of a diversified portfolio with just one purchase
Ease of Investing: can open, add to or redeem your account on any business day
Purchasing Power: only wealthy investors could accumulate positions similar to mutual funds
Liquidity: investors can easily sell units at any time
Flexibility: there is a fund to match virtually every investing need
Record-keeping Service: confirmation of transactions and necessary reporting for tax purposes
Investor Protection: mutual funds are highly regulated, ensuring operating standards
Distribution Options: earnings distributed to unit holders in a variety of beneficial ways
FORTUNE HOUSE offers a wide range of equity, balanced and fixed-income mutual funds. You can select from investment mandates based on management style, RRSP-eligibility, geographic region and industry sector. We can make switching between any of the funds in any of our families easy whenever your investment objectives change.
Whether your financial or business needs are big or small, whether your interests are local or global in scope, the SM Financial Services team provides you with intelligent, practical and principled solutions to resolve today's challenges and anticipate tomorrow's.
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