Chris Hammett - CFP, RRC - IG Wealth Management

Trump's tariff announcements have sent shockwaves through global markets. For investors, it's created anxiety, but also opportunities. Join us Tuesday, April 15 for a special, live market update with Philip Petursson, IG's Chief Investment Strategist, where we'll make sense of what's happened, and talk about what's next. Register here: https://ow.ly/l3Pw50Vxthz

Thank you to all our wonderful clients!

It was a great day to volunteer at the ECS track meet!

Celebrating 6 wonderful years today with IG Wealth Management! Thank you to all the wonderful clients I get to work with.

1. RRSP (Registered Retirement Savings Plan):
• Contributions are tax-deductible, meaning you can deduct them from your taxable income, potentially reducing your tax liability.
• Investments grow tax-deferred until withdrawal. You can contribute to a RRSP up until age 71.
• Withdrawals are subject to taxation and considered taxable income.
• There are annual contribution limits based on your previous years income, and any unused contribution room can be carried forward.

2. TFSA (Tax-Free Savings Account):
• Provides flexibility for various savings goals.
• Contributions are made with after-tax money, so they are not tax-deductible.
• Investments grow tax-free, and withdrawals are also tax-free.
• There are annual contribution limits (minimum age of 18), and any unused contribution room can be carried forward.
• Withdrawals create additional contribution room for future years.

Choosing between a RRSP and TFSA depends on your financial goals, current and future income, and tax situation. RRSP contributions provide immediate tax benefits, while TFSA offers tax-free growth and flexibility for withdrawals. It’s often beneficial to have a combination of both accounts to optimize your savings and tax strategies. Consult with a Financial Planner to help decide which is best for your situation.

Thanks to all our wonderful clients and voters!

Read our Q4 2022 Review and the causes for optimism ahead in 2023: http://ow.ly/vG3C50My4iO

The kids are back to school, so it is time to start thinking about their future education costs. A RESP is a great savings vehicle to tackle those expenses! Don’t be shy, reach out if you would like to learn more. ✏️ 📚

Market revisions need to happen, but earnings growth is still possible: Strategist Philip Petursson, chief investment strategist at IG Wealth Management, joins BNN Bloomberg to discuss his market outlook as investors await the BoC's upcoming rate hike. Petursson says corrections have allowed for valuations in some markets like the TSX to become extremely attractive.

Celebrating 5 years today!