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Globe PR Wire 19-Aug-2024 12:43 PM
Summary
Many Canadians face a retirement crisis; MarketsCo offers diverse investments to secure financial futures and build strong retirement plans.
Many Canadians face a growing retirement crisis, as insufficient RRSP savings, rising living costs, and shifting pension plans create financial challenges. Director Troy Debeer of MarketsCo explores the current state of RRSPs and highlights how MarketsCo provides a comprehensive solution through diverse investment opportunities, helping individuals secure their financial future and build a strong retirement plan.
Introduced in 1957, RRSPs were designed to encourage Canadians to save for retirement by offering tax advantages. Contributions to an RRSP are deducted from taxable income, reducing the contributor's current tax burden. Additionally, the investments within an RRSP grow tax-deferred until withdrawal. Withdrawals are taxed as income, typically at a lower rate if the retiree's income has decreased.
Despite the theoretical benefits of RRSPs, many Canadians need help accumulating enough savings for a comfortable retirement. Several factors contribute to this troubling trend:
Insufficient RRSP savings can lead many Canadians to face a reduced retirement standard, relying heavily on OAS and CPP, which may not cover all expenses. This also increases strain on government resources, burdening retirees and taxpayers financially.
Recognising the challenges faced by Canadians, MarketsCo offers a comprehensive solution to help individuals secure their financial future. With access to various assets and versatile features, MarketsCo is well-positioned to meet its clients' diverse needs.
MarketsCo provides access to various investment options, allowing clients to diversify their portfolios effectively. Whether stocks, crypto, forex, or other financial instruments, MarketsCo ensures investors have all the tools they need to build a robust retirement plan.
MarketsCo offers multiple retirement stocks that traders can choose for a safe retirement life. Here are some of the top-performing stocks available on the platform:
In conclusion, Canadians face a growing retirement crisis due to inadequate RRSP savings, rising living costs, and shifting pension plans. MarketsCo offers a solution by providing access to diverse investment opportunities, including top-performing retirement stocks, to help individuals secure their financial future and build a robust retirement plan amidst these challenges.
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