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Page and Associates announced in 1997 the formation of their strategic alliance with Kenneth Brown Investment Services Inc.—York’s oldest GIC deposit broker.

Kenneth Brown Investment Services Inc. is one of the largest GIC deposit brokers in the Toronto area and one of the 10th largest in Canada. They are also one of the founding members of the Federation of Canadian Independent Deposit Brokers.

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:: RRSP's ::

Consider these three key RRSP strategies

Retirement savings should be a top priority for every family. And that means contributing as much as possible each year to your Registered Retirement Savings Plan (RRSP). If you’re wondering how to get the money, here are three good places to start.

1. Invest regularly
Setting up a regular investment program is the single most effective way to build up your RRSP. It’s easier to set aside some money each month than to come up with a large contribution once a year.

Monthly investing enables you to “pay yourself first,” by having the money withdrawn automatically from your account. It ensures that your investments maintain their priority all year long.

It can also help you capitalize on the benefits of dollar-cost averaging. If you invest in mutual funds, for example, your regular monthly contribution will let you purchase more units when prices are low, and fewer fund units when prices are high.

2. Consider borrowing
For many people, the “forced savings” of a loan payment is an effective strategy. Loans are available specifically for RRSP contributions, often at or near the prime lending rate. You can reduce the interest charges even further by using your tax refund to pay down the loan and by following a one-year repayment schedule.

If you have substantial unused RRSP contribution room, think about taking a larger loan to make a one-time contribution. You would probably need a period of years to pay back the loan, but the long-term, tax-deferred growth potential can far outweigh the interest costs.
Professional advice can help you calculate a repayment schedule that will enable you to pursue this often effective strategy.

3. Contribute “in kind”
If you hold investments outside of a registered plan, you may be able to make what’s called an “in-kind” contribution. This involves transferring an RRSP-eligible investment that you already own, such as mutual fund units, stocks, or Guaranteed Investment
Certificates, into a self-directed RRSP. You get the same tax deduction as you would for a cash contribution.

The one caution here is that the transfer is treated, for tax purposes, as a deemed disposition. In other words, the tax department considers the transfer to be a sale.
So, if the security you contribute is worth more than what you paid for it, you may face a taxable capital gain.

In addition, if it’s a foreign investment, you’ll want to be sure that your RRSP has enough foreign-content room to absorb the contribution.

Professional advice can help you assess the long-term merits of an “in-kind” contribution based on your specific holdings, investment objectives, and any possible tax consequences. Ask Page about how RRSP's can play a role in your portfolio.