Registered Retirement Savings Plan (RRSP)
A registered investment account that allows you to save for your retirement is known as an RRSP. This account can defer tax on your investment earnings, so more money stays invested and grows faster. The registered retirement savings plan lowers the tax bill and deducts RRSP contributions from the taxable income. Therefore, when you retire, you'll be in a low tax bracket, and withdrawals can be taxed at a lower rate.
With Akini Financial Services Inc., you can invest now or contribute to your existing RRSP. The sooner you start investing, the closer you will be to a secure retirement.
Principal Protected Investments
When it comes to investment products we have you covered. We carry a extensive selection of Principal Protected financial products to guarantee that we have the right diversification to suite your needs.
Benefits Of An RRSP
- ● Use a registered retirement savings plan to save for your retirement.
- ● Contributions can lower your tax bill.
- ● The taxes on your investment income are paid only on withdrawal.
- ● Flexible investments.
We assist you with:
- ● Group RRSP’s
- ● Non-Registered Investments
- ● Loans for Investment and RRSPs
Time is a crucial factor in the growth of an RRSP. The longer you keep your money in an RRSP, the more likely it is to grow.
For example, if you contribute $100 per month to an RRSP at the age of 25, you will receive a 6% annual return. When you are 65, you get a return of $197,000.
The Canadian government sets the annual contribution limit. The maximum RRSP contribution is 18% of your current year’s earnings, less pension adjustments.
It can depend. Based on the Canadian government’s limit, you can contribute up to 18% of your eligible income.