RRSP Deadline March 1 – Seven Tips For Making Last-Minute Contributions

RRSP Deadline March 1 - Seven Tips For Making Last-Minute ContributionsThe month of March is fast approaching, but there’s still time to contribute to your RRSPs. Hop to it now if you want to bulk up your retirement savings and offset the hit from the tax man. 1. Remember deadlines are deadlines. March 1, 2017, is the deadline for contributions for the 2016 tax year, and that means the latest you contribute is by the end of the March 1…

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3 Bargain Dividend Stocks for Your RRSP

3 Bargain Dividend Stocks for Your RRSPU.S. dividends received in non-registered or tax-free savings accounts will experience a 15% withholding tax. So, the registered retirement savings plan (RRSP) is the best account to buy and hold discounted dividend stocks such as Wells Fargo & Co (NYSE:WFC), Amgen, Inc. (NASDAQ:AMGN), and American Hotel Income Properties REIT LP (TSX:HOT.UN). Why is Wells Fargo a bargain today? Wells Fargo is one of the largest banks in the U.S. The…

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3 Great Dividend Stocks for Your RRSP

3 Great Dividend Stocks for Your RRSPOpening and contributing to a registered retirement savings plan (RRSP) is a great way to set money aside for retirement, and dividend stocks are ideal investments for these accounts. With this in mind, let’s take a look at three with high and safe yields of 3-5% that you could buy right now. 1. Telus Corporation Telus Corporation (TSX:T)(NYSE:TU) is Canada’s third-largest telecommunications company with approximately 12.44 million total customer connections,…

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5 Things Investors Should Know But Probably Don’t

5 Things Investors Should Know But Probably Don'tCanadian investors love to think they are true masters of their financial kingdom when in practice most studies show many of us don’t realize small insights that could be very beneficial. We’ve uncovered some interesting things, shown below, that every investor should know. What are your thoughts? Have any more? Leave them in the comment section below. By far the cleverest way to save the most in exchange fees when…

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Move Over RRSP, TFSA – 7 Strategies For Maximizing Investment Returns

Move Over RRSP, TFSA - 7 Strategies For Maximizing Investment ReturnsInvestors tend to focus first and foremost on gross returns. Since an investor only gets to keep their net return after-tax, tax should be an important factor when it comes to investment decisions. The most basic example of this is to make the most of available tax shelters. Most people are aware of tax shelters like RRSPs, TFSAs and RESPs, but, if you are self-employed, you can even create your…

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Accelerating Mortgage Payments will Free up Cash for RESP, Retirement Savings

Accelerating Mortgage Payments will Free up Cash for RESP, Retirement SavingsA couple we’ll call Harry, 35, and Tina, 37, are thriving in their careers. Harry, a geologist with a large company, brings home $5,730 a month. Tina, a management consultant in the chemical industry, adds $3,880, for total monthly disposable income of $9,610 a month. They have a two-year-old child. You could say that Harry and Tina are typical Canadians. Their income, though above average, is just enough to get…

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What Lessons Investors Can Learn From the $1.5-billion Powerball Lottery?

What Lessons Investors Can Learn From the $1.5-billion Powerball Lottery?The U.S. Powerball lottery and its “world record” US$1.5-billion jackpot (or thereabouts) certainly caused quite a stir over the past few days. Even Canadians, apparently, were scrambling to get in on the action, flocking to American border towns to buy tickets. Jeesh. I don’t want to be a party pooper, and 1.5 billion is a lot of shekels, but really, you’d probably have been better off putting the price of…

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Top 10 Personal-Finance Myths

Top 10 Personal-Finance MythsCommon myths are everywhere: sharks don’t get cancer (not true); the Great Wall of China is visible from space (ditto). They exist in the world of personal finance, too. Myth: I don’t need to worry about our budget or finances because my partner manages the money. Fact: “Even if someone else is in the driver’s seat, you should be an active passenger; not asleep in the backseat,” says Linda MacKay,…

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Must-Make Year-End Tax Moves

Must-Make Year-End Tax MovesWe may be approaching the most wonderful time of the year, but December is also when to make moves that could save you money come tax time. “Most people think of tax time as April, but it’s really all year long,” says Caroline Battista, a senior tax analyst with H&R Block Canada. “You want to be keeping your receipts all year long, but there are few things you can do at…

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