Marketing Monthly | February 2017: RRSP
In this issue:
- How to make the most of your RRSP this year
- Gen-X will have to postpone retirement
- RRSP & living benefit insurance coverage
How to make the most of your RRSP this year
The Globe and Mail has compiled a treasure trove of RRSP strategies, investment picks and tools and calculators on one convenient page. Everything is here. From topics like, “Don’t make these rookie RRSP mistakes” and, “RRSP bashers: Here’s how the math really works” to “The classic RRSP season dilemma: Contribute or pay down your mortgage?”. If you only check out one thing from February’s Marketing Monthly it should be this. Feel free to pass it on to your clients as well as it may spark some conversation.
Gen-X will have to postpone retirement
A survey has found that most Gen-Xers will not have enough money to retire on time.
In a recent poll conducted for TD, more than two-thirds of Canadians between the ages of 35 and 54 said that they were not saving enough for retirement. The majority of those who are running behind indicated that they feel guilty about not saving enough for retirement and wish they had started earlier, while one in four are so anxious about the situation that it is “keeping them up at night”.
RRSP & living benefit insurance coverage
At first glance, you may not see a relationship between a RRSP and any living benefit product, but there is a very real connection.
RRSPs are one of the more important elements of retirement planning and in order for your retirement plan to work; you will need to make consistent ongoing deposits, have a positive return on your investment and then allow time to do the rest.
But what happens if you suffer a disability, now you can no longer work nor can you make those ongoing retirement savings’ contributions?
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