Insurance Advisor serving Kitchener, ON
Why Choose Paul's Insurance?
Our Insurance Advisor provides exceptional service for individuals and businesses.
Our Insurance services are absolutely private and confidential.
We offer the lowest prices available as compared to our competitors.
RRSP – Registered Retirement Savings Plan
RRSP helps you to save money for your retirement. If you’re under 71 years old and are employed or have a business income, you’re eligible to invest in RRSP. The annual contribution limit is 18% of your last year income.
An RRSP offers multiple tax advantages as you can grow your money tax-free, as well as deduct all contributions from your taxable income to become eligible for a tax refund.
TFSA - Tax-Free Savings Account
If you are 18 years or older, a TFSA is a unique savings account that allows you to grow your savings on a tax-free basis for a personal project. The TFSA is an incredibly flexible savings vehicle and lets you withdraw funds at any time, without a tax penalty.
NRSP - Non-Registered Savings Plan
An NRSP is like a personal savings account and allows you to save money for a project or to grow your retirement income. Non-Registered Savings Plans are usually used when you have reached your maximum RRSP and TFSA contribution limits. By investing in an NRSP, you get a higher return than on your bank account and have access to different investment funds.
RESP - Registered Education Savings Plan
If you are a parent in Canada and want to save for your children’s post-secondary education, a RESP is the perfect investment vehicle for you. With RESP, you can give your child a head start, as you have access to the Canada Education Savings Grant and can generate tax-deferred income.