Column: Financial Adviser
I read with great interest the C.D. Howe Institute’s recent paper, “The Piggy Bank Index: Matching Canadians’ Savings Rates to Their Retirement Dreams” by David Dodge, Alexandre Laurin, and Colin Busby. It highlights the challenges faced by individuals who are attempting to save enough for their retirement. These difficulties are intensified by relatively low contribution levels for registered retirement savings plans, and low investment returns.
Each year, the Federal Government of Canada collects close to $100 billion from individual tax payers; this is the government’s single biggest source of revenue.
With tax season just around the corner, the time has come to make your Registered Retirement Savings Plan contributions for another year.