FAQ
TFSA vs RRsp?
Understand the difference between a TFSA and RRSP by speaking with one of our financial advisors. We can help you decide which is the best option.
HOW MUCH SHOULD I HAVE SAVED?
By age 30, you should have between $80,000 - $100,000 saved between your RSP’s, TFSA, pension and bank accounts.
By age 40, you should have 3x your income split between the mentioned investment/savings vehicles.
Lets get you on the right track together.
WHy do I need insurance now?
Insurance is far too often thought of when it’s “too late”. Should you pass, your loved ones will be able to pay off the mortgage, keep the car, replace lost income eliminating a financial burden and have the security to continue living their lives worry-free. You may also donate all or a portion to your favorite charity and leave a legacy. Not only that, but there are ways to use dividends in your policy while still alive to add to retirement income. Here at Southlake, we aim to help you understand the ways life insurance can benefit your specific situation.
TFSA Limits
Annual Cumulative
2022 $6,000 $81,500
2021 $6,000 $75,500
2020 $6,000 $69,500
2019 $6,000 $63,500
2018 $5,500 $57,500
2017 $5,500 $52,000
2016 $5,500 $46,500
2015 $10,000 $41,000
2014 $5,500 $31,000
2013 $5,500 $25,500
2012 $5,000 $20,000
2011 $5,000 $15,000
2010 $5,000 $10,000
2009 $5,000 $5,000
