The Walton Financial Group in Barrie Ontario offers advice about RRSP’s
A Registered Retirement Savings Plan provides a vehicle to save on taxes now while saving for retirement in the future . Call the Walton Financial Group in Barrie for RRSP advice
The RRSP is am ideal option for individuals who wish to maximize tax savings while they are in a high tax rate bracket as earners currently but expect to enjoy a lower tax bracket on retirement .
With an RRSP you get a tax deduction up front from making a contribution – but the money becomes fully taxable when you take it out.
In the year in which you turn 71 , you are required to turn your RRSP into a RRIf or Annuity and then make minimum withdrawals starting the next year.
The RRSP Contribution date for the 2019 Tax year is March 2 2020
Call the Walton Financial Group in Barrie Ontario to set up a meeting with a financial advisor and retirement planner
