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As we ring in 2025, it’s the perfect time to evaluate your financial goals and make the most of your registered accounts. Here’s what you need to know to stay on track:
RRSP Contributions
The 2025 contribution limit for a Registered Retirement Savings Plan (RRSP) is $32,490 or 18% of your 2024 earned income, whichever is lower. This is an increase from the 2024 limit of $31,560.
Mark your calendar! The deadline to contribute for the 2024 tax year is Monday, March 3, 2025.
Why contribute? RRSPs offer immediate tax benefits by reducing your taxable income while helping you build a secure retirement.
TFSA Contributions
For 2025, the annual Tax-Free Savings Account (TFSA) contribution limit is $7,000. If you’ve never contributed before, the cumulative room by the end of 2025 will total $102,000.
TFSAs are a versatile option for tax-free growth, whether you're saving for short-term goals or long-term investments.
Take Action Today
If you’re unsure about your available contribution room or how to optimize these accounts, let’s connect! Together, we can ensure your RRSP and TFSA contributions align with your financial goals for 2025 and beyond.
Let’s make this year a success—financially and otherwise.
Contact me today to start the conversation!
Blog Disclaimer
The comments contained herein are a general discussion of certain issues intended as general information only and should not be relied upon as tax or legal advice. Please obtain independent professional advice, in the context of your particular circumstances. This Blog was written, designed, and produced by Todd Race Copywriting for the benefit of Brian Kettles who is a investment fund advisor at BJK Financial Group a registered trade name with Investia Financial Services Inc., and does not necessarily reflect the opinion of Investia Financial Services Inc. The information contained in this article comes from sources we believe reliable, but we cannot guarantee its accuracy or reliability. The opinions expressed are based on an analysis and interpretation dating from the date of publication and are subject to change without notice. Furthermore, they do not constitute an offer or solicitation to buy or sell any securities.
Mutual Funds, approved exempt market products and/or exchange traded funds are offered through Investia Financial Services Inc.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the simplified prospectus before investing. Mutual funds are not guaranteed and are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you. Fund values change frequently, and past performance may not be repeated. Investia is not liable and/or responsible for any non mutual fund related business and/or services.
Mutual funds, approved exempt market products and/or exchange traded funds are offered through Investia Financial Services Inc.
The particulars contained herein were obtained from sources which we believe reliable but are not guaranteed by us and may be incomplete.
The opinions expressed have not been approved by and are not those of Investia Financial Services Inc.
This website is not deemed to be used as a solicitation in a jurisdiction where this Investia representative is not registered.
