RBC Financial Planning Tips and Facts for National Financial Planning Week
TORONTO, Nov. 14, 2014 /CNW/ -
WHICH… are the 5 financial concerns that are top of mind for Canadians?
- Should I pay down my mortgage or invest in my RRSP?
- I can't afford to save in both an RRSP and a TFSA – how do I know which one is right for me?
- When can I afford to retire?
- I have a Will, why do I need an estate plan?
- How can I help ensure my elderly parents are well cared for, financially and emotionally?
WHAT… are the 5 top tips RBC Financial Planning has for Canadians to help them manage their finances?
- Pay yourself first – this continues to be a simple but very effective approach to saving.
- Have a financial plan that you can share with your family and Financial Planner to help determine the best way to reach your goals.
- Review your financial goals on a regular basis and revise them as your life changes (marriage, children, yearly income, retirement).
- Reduce your most expensive debts as much and as quickly as you can.
- Learn about tax-saving options – RRSPs, TFSAs, RESPs, RDSPs – and make regular contributions to the tax-savings options that are best for you.
HOW… many Canadians have RRSPs and TFSAs?
- 59 per cent have RRSPs
- 54 per cent have TFSAs
WHO… can media talk to about financial planning advice for Canadians?
- Richa Hingorani, Senior Manager, Financial Planning Support
RBC Financial Planning
WHERE…can media find more information?
- Please contact Kathy Bevan, RBC Communications
[email protected] or 416-974-8820
For further information: Kathy Bevan, RBC Communications, [email protected] or 416-974-8820