Make Your Golden Years Brighter
Saving Money for Retirement
If you are like most Canadian employees you haven’t given much serious thought to saving money for retirement. If you are an employee, you need the tax deferral that an RSP offers. If home ownership is your goal, the quickest way to obtain a down payment is to load your RSP, which is non-taxable, and then use those funds for a down payment on a home. Double dip the government by utilizing a tax deferred savings account. When you have saved enough you can borrow against it. These are just a few of the benefits that Morgan National can advise you of regarding an RSP.
The Benefits of Retirement Savings
- Paying yourself first results in more regular contributions and a bigger nest egg
- Low-risk investment plan with ample time for growth
- Starting early allows for more conservative investing, allowing your money to grow steadily
Within the first 3 to 5 years of starting your RSP Morgan National has a goal that you will have saved 15 to 20% of your annual income each year. And remember, once you are on track with this process, you don’t miss the money. It becomes the same as paying any other bill. And when you’re young you don’t have to be as aggressive with your savings either; you have time to be a bit more conservative, and a comprehensive RSP is a low-risk investment plan with ample time for growth.
The best part of saving money for retirement is the security that it provides and the opportunities it affords.
Call Morgan National Corporation at (866) 595-3533 to discuss retirement savings plans; start saving for the future – today!