Hanna Shevchenko, PFP

RRSP Contribution Deadline Alert! The deadline to contribute to your RRSP for the 2024 tax year is March 3, 2025. Don't miss the chance to: 1. Lower your Income Tax: RRSP contributions reduce your taxable income. 2. Grow Your Wealth: Investments grow tax-deferred. 3. Plan for Retirement: Secure your financial future. Make sure to always check your CRA account or 2023 Notice of Assessment to confirm your RRSP contribution limit for the year. Knowing your limit helps you avoid overcontributing and ensures you are maximizing your savings. If you are married or in a common-law partnership, explore the benefits of a spousal RRSP to take advantage of income-splitting opportunities and save even more for retirement. Start now and set yourself up for a stress-free tax season! #RRSP #RetirementPlanning #TaxSavings #FinancialFreedom

5 Ways to Make the Most of Your TFSA in 2025 The TFSA is one of the most powerful tools to grow your wealth tax-free. Here's how to maximize its potential this year: 1. Contribute Early: The 2025 contribution limit is $7,000 - the sooner you invest, the longer your money grows tax-free. 2. Catch Up on Unused Room: Haven't maxed out your TFSA? You may have up to $102,000 in total room (if you have been eligible for a TFSA since 2009 and have never contributed). Always verify your TFSA room with CRA between the end of February and December. 3. Invest Strategically: Use your TFSA for high-growth investments with longer time horizon to take full advantage of the tax-free growth. 4. Reinvest Withdrawals: Withdrawals are tax-free, but remember that you can recontribute the withdrawn amount starting the next calendar year. 5. Save for Big Goals: Whether it's retirement, a vacation, or a rainy-day fund, your TFSA is flexible enough for any savings goal. Start maximizing your TFSA today and let your wealth grow tax-free! #TFSA #WealthBuilding #FinancialFreedom #TaxFreeSavings