January Newsletter
Megan Lisowski - Jan 05, 2024
Happy New Year!
We hope everyone has had a great start to 2024 and we wish you all the best throughout the year! We look forward to speaking and meeting with you all this year. At anytime, if you would like to speak with us, please do not hesitate to reach us directly by phone 905-727-5040 or Ridd.Associates@nbpcd.com. We would also be happy to meet with you in person!
Important Information
The 2024 TFSA contribution limit is $7,000. If you have previously provided authorization for us to process your TFSA contribution, we will be processing the contributions over the next couple of weeks. Please contact us if you have any questions.
Market and Portfolio Update
Markets were finally able to finish strong for the final quarter of 2023, having bottomed out at the very end of October as they moved higher to year end. As we discussed most of the year, that was led by technology and the big seven stocks.
Monthly Features
RRSPs – Savings Tips and Strategies
As we welcome the new year, we also encourage our clients to start planning ahead for RRSP season. As a refresher, we’ve highlighted some of the key benefits and features of this registered plan, no matter what stage of life you are in.
Please note that your individual contribution limit is 18% of your earned income from the previous tax year, or the annual maximum set by the government—whichever is less (plus any unused contribution room from previous years). For 2023, the maximum any Canadian can contribute to their RRSP is $30,780. The deadline to contribute for the 2023 tax year is March 1st, 2024. We encourage you to contact us prior to this date to co-ordinate any planned contributions.
We hope you enjoyed this month's newsletter.
If at anytime you would like to meet with us, please contact us by phone at 905-727-5040 or Ridd.Associates@nbpcd.com. We would be happy to setup an in-person meeting, phone meeting or virtual meeting at a time that is convenient for you. We look forward to reviewing your portfolio and wealth plan as well as answering any questions you may have.
If you know someone who can benefit from what you have learned today, please feel free to forward this newsletter to them.
Warm regards,
