1. SAVING ENOUGH FOR RETIREMENT
Contributing to an RRSP saves individuals money today through tax savings and can provide you with a larger investment portfolio at retirement. The optimal way for you to build retirement savings is through regular contributions. An RRSP is most effective when contributions are maximized each year. If you don’t have the cash available to make a contribution, then an RRSP loan could be an excellent alternative.
An RRSP loan could help you realize tax savings, increase the size of your RRSP and help you establish a disciplined savings plan. Help achieve your goals sooner with an RRSP loan program. Contact us, so we can discuss your financial situation and determine whether leveraged investing is right for you.
2. SAVING FOR YOUR CHILDREN’S FUTURE
Registered Education Savings Plan (RESP).
As the cost of post-secondary education continues to rise, saving for your child’s education is more critical than ever. Opening an RESP is an opportunity to start saving for your child’s education early plus you can take advantage of the Canadian Education Savings Grant (CESG).
Let’s get your money working for you today.
Did you know…
• You can contribute up to a maximum of $50,000 for each child you name as a beneficiary in an RESP.
• You can receive the Canada Education Savings Grant (CESG). Maximum per year is $500 (carry-forward of grant room can allow up to $1,000 per year).
• Choose from a wide range of mutual funds to help the money grow.
• Your contributions can grow every year on a tax-deferred basis.
• When RESP grants and earnings are withdrawn for educational purposes, they are taxed at the student's tax rate, which is typically low.
3. BANKING SOLUTIONS
Mentorship Wealth Management works with various banks to offer a variety of bank products and services.
DEBT MANAGEMENT SOLUTIONS
Looking for a debt management solution? Click here for more information.
ACCESS LINE OF CREDIT
The cash you need, when you need it!
One of the keys to financial security is the ability to borrow money quickly and cost-effectively when the need arises. A line of credit can be a flexible, low-cost way to access cash or reduce the cost of existing loans.
INVESTMENT SAVING ACCOUNTS
Just because you need a secure place to invest your cash doesn’t mean you should accept a low rate of return. The Investment Savings Accounts we offer provides three key benefits you look for in a low-risk investment:
Unlike investments that can decrease in value, Investment Savings Account provides the security of a deposit account.
With this account, there are no maturity dates to worry about, your money is never locked-in and transactions settle the following business day.
The account features a premium interest rate that applies to every dollar in your account which means your cash can work harder than ever.
Investment leverage is a powerful tool that can accelerate the growth of your non-registered savings and help you achieve your financial goals sooner.