RRSP CONTRIBUTION DEADLINE

RRSP Contribution Deadline

DLD Quarterly Money Thoughts (January 2019) includes RRSP Contribution Deadline, TFSA Annual Contribution Limit Increase, No transfer fees to consolidate external accounts over $25,000, A Smart Smoothie Recipe by Joy Bauer.

RRSP Contribution Deadline for the 2018 Tax Year on Friday, March 1st 2019

Please get in touch with Dave, Kelly or Ryan to get your contributions into your RRSP in advance of the deadline.

> View important dates for RRSP, RDSP, HBP and LLP

TFSA Annual Contribution Limit Increase

Our federal government has increased the TFSA annual contribution room to $6000 per year going forward as of January 1 2019.  If you don’t have one set up yet or you have yet to maximize your contribution room, please get in touch with us to discuss on how this strategy will within your financial plan. TFSA contributions are after-tax dollars that grow on a tax-sheltered basis and can be withdrawn on tax-free.

Here is a cumulative table of the contribution limits since 2009 (Source: www.moneysense.ca)

cumulative table of the contribution limits since 2009
NO TRANSFER FEES TO CONSOLIDATE EXTERNAL ACCOUNTS
No transfer fees to consolidate external accounts over $25,0000

Normally, when we request for transfers from major financial institutions, a fee of $75-$150 is charged before the assets are transferred over. We now have an arrangement through our salaried Qtrade broker who can facilitate transfers and have the administrative fee waived. It’s not uncommon that one may have accounts through multiple institutions. However, as time goes on, we’ve found that many of our clients simply do not have the time to manage each account effectively. As well, when accounts reach prescribed minimums, the cost associated with investing goes down.

Smart Smoothie "A great way to boost cognition and remove brain fog."
Smart Smoothie – A great way to boost cognition and remove brain fog.

Kelly recently attended the MDRT Edge Conference (www.mdrt.org) in Boston, MA in November 2018. Celebrity dietitian Joy Bauer was one of the anchor speakers in one of the few non-industry related talks. One of the highlights from her talk was this particular recipe – which is fitting for all of us since we’re all pressed for time.

Prep time: 5 minutes and this recipe makes 2 servings (1 1/4 cups each)

2 cups blueberries, fresh or frozen
1/2 ripe banana, fresh or frozen
2 teaspoons cocoa powder
1/4 teaspoon vanilla extract
1/2 cup brewed coffee (room temperature or chilled)
1 teaspoon chia seeds
3-5 ice cubs

Place all ingredients in a blender and puree until smooth.
(Source: https://joybauer.com/healthy-recipes/smart-smoothie-2/)

E&OE