Randy K. Harrison
Jody Parker
1381 Caravel Cr. Orleans, ON K1E 3X4
Phone: (613) 736-8686 Cell: (613) 614-3576 Fax: (613) 736-4022
Contact us
Randy K. Harrison
Jody Parker
1381 Caravel Cr. Orleans, ON K1E 3X4
Phone: (613) 736-8686 Cell: (613) 614-3576 Fax: (613) 736-4022
Contact us
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Mutual Funds allow the investor the same access to securities as the institutional investor—access to stocks and bonds from many different companies. Moreover, mutual fund investments can gain the tax-advantaged benefits if they are registered in one or more of several savings plans offered by the Canadian government.
Mutual funds area great way to diversify your Registered Education Savings Plan (RESP). You can start investing in mutual funds for your child’s education long before he or she reaches college or university age. Small monthly investments can add up over time to cover all or part of the following costs: tuition, books, accommodation, a cafeteria food plan or weekly groceries, a car payment plus insurance and gas or public transportation, furniture, a telephone, and of course spending money.
The Canda Education Savings Grant (CESG)
The bonus of the RESP is that the government actually grants you a percentage of your contribution. Thus both your contribution and the government’s grant are invested in the RESP. The added benefit of reinvesting the 20% government grant 1 automatically in the mutual fund creates, even more, potential compounding. The RESP will grow tax-deferred until your student needs it. You can diversify among many types of funds which invest in companies of several international countries. For CESG information click here.
Mutual funds can enjoy tax deferral in the Tax-Free Savings Account (TFSA). The TFSA is a great investment if you are a member of a pension plan and have minimal if any, room to invest in your RRSP due to a high pension adjustment (PA) factor.
Educational Savings Use You can also supplement RESP savings through the TFSA. After-tax investments grow tax-deferred and there is no taxation on withdrawal. This makes the TFSA versatile for deferring investment taxation, plus avoid taxation upon withdrawing monies for numerous uses. However, the TFSA will not offer the benefit of the CESG.
1 Check here for the limit on the CESG.
Source: CRA
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Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investment funds, including segregated fund investments. Please read the fund summary information folder prospectus before investing. Mutual Funds and/or Segregated Funds may not be guaranteed, their market value changes daily and past performance is not indicative of future results. The publisher does not guarantee the accuracy and will not be held liable in any way for any error, or omission, or any financial decision. Talk to your advisor before making any financial decision. A description of the key features of the applicable individual variable annuity contract or segregated fund is contained in the Information Folder. Any amount that is allocated to a segregated fund is invested at the risk of the contract holder and may increase or decrease in value. Product features are subject to change.
Implementing a retirement, estate, and any other form of financial plan may consist of investing in mutual funds, insurance products (such as segregated funds) and other financial instruments. Prospective investors should always obtain a copy of the offering documents in respect of each investment product (such as prospectus, information statement or folder, insurance contract, etc.), and read it carefully, including discussion of any risk factors, fees, expenses, terms, conditions and restrictions. Consult your personal tax and legal advisor before investing.
Mutual funds and/or approved exempt market products are offered through Investia Financial Services Inc. (“Investia”). Mutual funds and exempt market products are sold exclusively by Representatives who are licensed by provincial regulators and registered with Investia.
Commissions, trailing commissions, management fees and other expenses may be associated with mutual fund/exempt market product investments. Please read the Fund Fact or prospectus carefully before investing. Mutual fund and exempt market product investments are not guaranteed, their values change frequently, and their past performance may not be repeated.
Insurance products are provided through PPI Management Inc.