Save Taxes and Accumulate More Retirement Income
Author:
Ivon T. Hughes
This
investment strategy applies to you if you are contributing your available
maximum limit to RRSPs and you are now accumulating non-registered money
for retirement.
The
problem with non-registered funds is that you have to pay taxes on the investment
growth. This effectively decreases the total return on the funds you have
to invest. Over the lifetime of the investment, the aggregate tax loss will
be many thousands of dollars. The cumulative taxes paid on $100,000 of non-registered
savings invested into an equity mutual fund would amount to $165,306 over
30 years! (More details and assumptions are available on our website).
The
Retirement Income Maximizer solves this problem using eUL - a universal
life plan. This strategy minimizes the cost of term insurance and maximizes
your investments in a eUL plan where the investment growth is tax-deferred.
It uses as much of your deposits as the Income Tax Act allows for wealth
accumulation.
In
most cases, your cumulative cost for insurance over the long term will be
less than the taxes you would otherwise lose on a non-registered investment.
In other words, the cost of insurance is significantly less than the tax.
We
want to help you save tax! If you have not taken a serious look at using
universal life to reduce your taxes in the last five years, I'm sure you
will be impressed. Contact us for more information or run your own projection
to calculate your potential tax saving yourself at our website.
Back
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Ivon T. Hughes, The Hughes Trustco Group Ltd.
Online Insurance Broker - Get a FREE Quote TODAY!
Tel: (514) 842-9001 Email: info@trustco.ca
Web: http://www.trustco.ca
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