Rick and Taylor opened up TFSAs and will be depositing $13,000 into each over the next few
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Rick and Taylor opened up TFSAs and will be depositing $13,000 into each over the next few months.
- These are their only TFSA's and no previous contributions have ever been made
- They will be seeking advice on how to invest inside the TFSA.
- Rick's most recent NOA states an unused RRSP room of $104,000.
- Taylor's most recent NOA states an unused RRSP room of $64,000.
- Rick has a DB pension plan that is based on his last 3 year's average earnings with a 2% pay-out per year of pensionable service.
- Rick's 2021 PA = $10,819.
- Taylor's Group RRSP plan
- Rick's RRSP Plan
- Taylor's Spousal RRSP
- Rick and Taylor's Net Worth Statement
- Long-Term Assets $1,577,005
- Total Assets $1,607,835
- Total Long-Term Liabilties $726,566
- Total Liabilities $730,056
Are there any tax advantages they can gain by restructuring areas of their finances (More contributions to their RRSPs)
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