It’s important to make the most of your retirement income. To do so, you need to be aware of what income is and isn’t taxable, and also how to make the most of the tax breaks you’re entitled to. This article outlines the four main steps you need to take to ensure you keep as much of your retirement income as possible:
1. Make a financial plan.
2. Split your pension income.
3. Buy an annuity.
4. Be aware of retirement-related tax breaks.
https://horizonfinancial.ca/wp-content/uploads/2023/09/Retirement-income.png281500Horizon Financialhttps://horizonfinancial.ca/wp-content/uploads/2019/12/horizonEnfold2.jpgHorizon Financial2023-09-01 06:16:212023-09-01 06:16:25Essential tips for paying less tax and keeping more of your retirement income
Many of us dream of the day that we can retire and have the time to ourselves that we have dreamed of for so many years. But, to have a genuinely contented and relaxing retirement, you need to ensure that you have the means to afford it. So, now’s the best time to consider the three critical stages of retirement planning.
https://horizonfinancial.ca/wp-content/uploads/2023/08/Do-you-have-enough-for-retirement.png281500Horizon Financialhttps://horizonfinancial.ca/wp-content/uploads/2019/12/horizonEnfold2.jpgHorizon Financial2023-08-01 06:36:102023-08-01 06:36:15Do you have enough for retirement?
A Tax-Free Savings Account is a powerful tool to help you achieve your financial goals. Whether you’re saving for a new home, planning for retirement, or investing in your children’s education, a TFSA can be a valuable part of your financial strategy. The flexibility and tax advantages it offers make it a great choice for many Canadians.
Remember, the sooner you start, the more time your investments have to grow tax-free. Every dollar counts when you’re planning for the future, and a TFSA can help you make the most of your savings.
Don’t wait until tomorrow to start planning for your future. Contact us today to begin your journey to financial security today.
Are you looking to buy your first home in Canada? The First Home Savings Account (FHSA) could help make it happen. This savings plan allows first-time home buyers to save up to $40,000 tax-free, with contributions being tax-deductible. In this article and infographic, we cover everything you need to know about FHSA, including eligibility requirements, contributions and deductions, qualifying investments, withdrawals, and transfers.
https://horizonfinancial.ca/wp-content/uploads/2023/06/fhsaFI.png250500Horizon Financialhttps://horizonfinancial.ca/wp-content/uploads/2019/12/horizonEnfold2.jpgHorizon Financial2023-06-01 12:05:192023-06-01 12:05:23First Home Savings Account (FHSA): What You Need to Know
As a business owner, one of your challenges is learning how to balance between reinvesting into the business and setting money aside for personal savings. Since there are no longer employer-sponsored pension plans and the knowledge that retirement will come eventually, it’s important to have a retirement plan in place.
We’ve put together an infographic checklist that can help you get started on this.
Essential tips for paying less tax and keeping more of your retirement income
/in Blog, Family, Investment, Retirees, tax /by Horizon FinancialIt’s important to make the most of your retirement income. To do so, you need to be aware of what income is and isn’t taxable, and also how to make the most of the tax breaks you’re entitled to. This article outlines the four main steps you need to take to ensure you keep as much of your retirement income as possible:
1. Make a financial plan.
2. Split your pension income.
3. Buy an annuity.
4. Be aware of retirement-related tax breaks.
Do you have enough for retirement?
/in Blog, business owners, Family, farmers, financial advice, Financial Planning, Investment, Professionals, Retirees /by Horizon FinancialMany of us dream of the day that we can retire and have the time to ourselves that we have dreamed of for so many years. But, to have a genuinely contented and relaxing retirement, you need to ensure that you have the means to afford it. So, now’s the best time to consider the three critical stages of retirement planning.
1) Accumulation
2) Pre-retirement
3) Retirement
Understanding Tax-Free Savings Accounts (TFSAs)
/in Blog, Investment /by Horizon FinancialA Tax-Free Savings Account is a powerful tool to help you achieve your financial goals. Whether you’re saving for a new home, planning for retirement, or investing in your children’s education, a TFSA can be a valuable part of your financial strategy. The flexibility and tax advantages it offers make it a great choice for many Canadians.
Remember, the sooner you start, the more time your investments have to grow tax-free. Every dollar counts when you’re planning for the future, and a TFSA can help you make the most of your savings.
Don’t wait until tomorrow to start planning for your future. Contact us today to begin your journey to financial security today.
First Home Savings Account (FHSA): What You Need to Know
/in Blog, Investment /by Horizon FinancialAre you looking to buy your first home in Canada? The First Home Savings Account (FHSA) could help make it happen. This savings plan allows first-time home buyers to save up to $40,000 tax-free, with contributions being tax-deductible. In this article and infographic, we cover everything you need to know about FHSA, including eligibility requirements, contributions and deductions, qualifying investments, withdrawals, and transfers.
Retirement Planning for Business Owners – Checklist
/in Blog, business owners, corporate, health benefits, life insurance, long term care, pension plan, rrsp, Tax Free Savings Account /by Horizon FinancialAs a business owner, one of your challenges is learning how to balance between reinvesting into the business and setting money aside for personal savings. Since there are no longer employer-sponsored pension plans and the knowledge that retirement will come eventually, it’s important to have a retirement plan in place.
We’ve put together an infographic checklist that can help you get started on this.