Showing posts with label RRSP. Show all posts
Showing posts with label RRSP. Show all posts

Sunday, January 17, 2021

So Apparently Investing Isn't Just For Rich People? Here's An RRSP Calculator...

2 COOOOOOMMENTS! Now you speak up!

 Hello all,


I'm still kicking over here. How are you all? I've been spending most of my time on TikTok and Instagram, mostly to keep me from feeling the deep and unsettling boredom and doom that months and months and months of a pandemic has brought forward. Not even posting... just mindlessly scrolling because I want something to distract me from the anxiety.

Anyway, I wanted to come on and mention a website that helps with Canadian RRSP (Registered Retirement Savings Plan) stuff. (No, I am NOT getting paid for this and I don't benefit at all if you click through - you're a strong, independent Reader - I'm not gonna tell you what to do).

This has ALWAYS intimidated me. Anything investing. Anything taxes. I even get scared filling in the blanks in the automated online tax program we use every year. But I started talking to the Hubs and I realized that I know JACK SHIT about the right way to save up for later on, and I've always felt too intimated and stupid to look into it or get official financial advice.

Toss in a pandemic, and I'm not going ANYWHERE or INTO ANYONE'S OFFICE to ask questions.

This site lets you put in your income, how many soul/energy sucking tiny humans children you have, spouse income and CRB (not CERB!) info to tell you how much money it makes sense to deposit in your RRSP. You need your tax notice of assessment ("NOA") from last year that tells you how much "room" (aka how much you can make it rain, aka the actual MAXIMUM number of dollars the ol' government will LET you put in that RRSP) this year.

Screen shot of the RRSP Calculator (Source)


It's actually pretty cool because after using the little calculator on the site, I realized that at a certain point, it doesn't make sense to put money over a CERTAIN amount in there because the benefit to me drops off. The Hubs was faster/better at understanding and explaining it to me, but it was neat to see it laid out, and in chart form. You know me, easily distracted by colours and/or shiny things.

I always thought investment stuff was only for rich people, but an RRSP is something that anyone can start, and if you can figure your shit out, the government will actually cut you some tax breaks. 

Anyway, hope it helps. Life is pretty depressing right now. We still have to file our damn taxes. I hate taxes, but little tools that one make it suck a little less certainly don't hurt.


________________________________


Pin It Now!

Tuesday, January 4, 2011

Shameless Friend Website Whoring - Canadian Tax Time!

6 COOOOOOMMENTS! Now you speak up!
Hey Y'all.

You know how this blog-circle-of-life, I scratch your  scrotum  back you scratch mine, I'll  whore help you out, you help me now and again?

Okay, well this is slightly different. I have a friend (who is much classier than I and likely doesn't approve of the words 'scrotum' or 'whore' used in connection to their website) has created an easy online tool that helps you figure out where to throw your Canadian money before you file your income tax to the CRA (Canada Revenue Agency).


Here is my quick plug for the FREE Canadian Tax Tool Site Here [edit: site is now defunct... he stopped paying for the url]. Check it out if you so desire. It works for any province and will help you make some choices for filing your taxes. I make no money if you click it, and the website owner only makes money if you click on ads. So, basically, you benefit, and my friend got to learn a boatload of HTML coding. You're welcome.

All that TFSA (tax free saving account) versus the ole RRSP (Registered Retirement Savings Plan) stuff is there. I won't pretend to understand it, because I am a mere humour blogger/simpleton who only ever hopes not to have to PAY taxes, but receive a tax REFUND. All I know is that there is a cut off for RRSP contributions, so get your shizz together, Canadians!

It's no H&R Block, but it's free, so, shush.

A screen shot, and no, I didn't get to edit the text first. I'll tell ya where you can put your money....


I've been back from vacation for only two days and already a lot of the funny is starting to escape my feeble mind. I should work on posts, but am trying to work on maintaining my sanity first (did you know that is full time work, for a girl like me?).

_______________________________________________________________
Pin It Now!