February 2012

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RRSPs: A Love / Hate Relationship

With the 2011 RRSP deadline only a few weeks away, we reflect on Canadians "love/hate" relationship with their RRSP accounts.

RRSPs are the most important retirement savings vehicle for the vast majority of Canadians. While everyone "loves" the tax refunds generated by their RRSP deposits, most people "hate" that it takes planning to take full advantage of the benefits of an RRSP account.

Whether you have questions about a yearly RRSP deposit, an automatic contribution plan, or the differences between RRSP and TFSA accounts - we can help.

Contact our office today to find out more about your 2011 RRSP options.

 

Daily Choices of Financial Freedom

Most people want financial freedom over financial servitude. Who doesn’t want to be financially independent, where their money is working for them rather than working for their money? The problem for most Canadians is that financial freedom can be a struggle of living paycheck-to-paycheck or where spending tends to win out over savings. Ultimately, financial freedom is not so much a single choice to attain it, but about daily choices that can make it a reality.

Setting long term savings goals, while essential, is not always effective for people who have never before accumulated a meaningful sum of money. When looking into the future and seeing the need to...

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What’s Your Retirement Planning Mindset?

Recent surveys reveal that a large majority of so-called Baby Boomers are uncertain about their preparation for retirement. Arguably, the "have it my way" generation did not all follow in their parents’ footsteps when it came to saving for the future. As well, some major bumps along the way (a housing crisis, a stock market crash and a global financial crisis) have reduced many retirement "nest eggs."

There is a "new normal" retirement being forged that is changing all of the old retirement rules, and raising new questions about what the "golden years" should look like. With time being their most precious commodity, wise decisions made by Baby Boomers today are becoming much more critical. This is...

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The only way of finding the limits of the possible is
by going beyond them into the impossible.

Arthur C. Clarke


Commissions, trailing commissions, management fees and expenses all may be associated with segregated fund investments. While the principal amount of a segregated fund investment may be guaranteed, their values change frequently and past performance may not be repeated. Please read the prospectus of the segregated funds in which you invest. The information in this email newsletter is general information only and is not intended to constitute specific legal, accounting, financial or tax advice for any individual.

Wholelife Financial Services - Suite 311 - 1550 South Gateway Road, Mississauga, ON L4W 5G6 - Ph: (416) 998-5656