HOW MUCH TAXES DO WE PAY? The percentage of tax that Canadians pay is completely outrageous. While some taxes appear to be reduced, others are increased and new ones added, to continually increase revenues for our politicians to squander.
HOW TO AVOID THE RRSP TRAP – TAX TIME BOMB? One of the biggest mistakes we make as investors is forgetting just how much TAX we will pay to CRA, if we continue to blindly add to our RRSPs without thinking about how much tax you are going to be faced with in retirement.
HOW WE USE THE TAX YOU HAVE TO PAY TO FUND A TAX DEDUCTION AND BUILD WEALTH? First let’s update what the markets have been doing. In my last article I pinpointed that we should start seeing the benefits of “Trumps big Tax cuts”. As it takes 3 -6 months after he announced the cut’s in November to show up in the economy. Since we had just entered the earnings season in which first quarter earnings were announced I was eager to see my prediction come true.
A CASE STUDY REVIEW AND RESULTS AFTER JUST ONE YEAR – We will call this case study RR. RR was referred to us by an existing client who was very happy with what he had done with us in a short time period. RR who is 35, was a self made investor who had accumulated $100,000 in his RRSPs.