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Found 1 entry for September, 2018.

Retirement Catch Up: Get your retirement savings back on track.

Pay yourself first. The key to building wealth is keeping a portion of what you earn. Set automatic transfer of a portion of your paycheque into a savings account, From there, you can choose to contribute a portion of your savings into a retirement account, such as a Tax Free Savings Account (TSFA) and/or a Registered Retirement Savings Plan.(RRSP)

If you choose to contribute to a TFSA, you can contribute up to $5500 per year; keep in mind, the total contribution amount rolls over each year so you may be able to contribute more. If you're just opening  the account, you can contribute up to $57000. There's a one percent per month over-contribution penalty; if you over-contributed more

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