Protect yourself and your loved ones from the unexpected.

INVESTMENTS: Start your retirement strategy today.


A Registered Retirement Savings Plan (RRSP) is an effective retirement savings and investment tool that lets Canadians build personal wealth in a tax-deferred plan.A Registered Retirement Savings Plan (R R S P) is an effective retirement savings and investment tool that lets Canadians build personal wealth in a tax-deferred plan.

Like many people, you’re looking for ways to maximize your savings and investments. With so many options for investing out there, how do you know you’re making the right choice for you and your financial future? Let’s have a look at the potential investment power this combination offers.Like many people, you’re looking for ways to maximize your savings and investments. With so many options for investing out there, how do you know you’re making the right choice for you and your financial future

How an RRSP account works

Now, imagine that kind of RRSP. Registered Retirement Savings Plans are accounts specifically designed to help you save for retirement. With an RRSP, you can:Now, imagine that kind of R R S P. Registered Retirement Savings Plans are accounts specifically designed to help you save for retirement. With an R R S P, you can:

  • Contribute to your annual contribution limit (up to 18% of your total yearly income to a maximum of $27,230*)
  • Enjoy income tax deductions on all money contributed annually

What are the benefits of investing in an RRSP?

  • Tax-Deferred Savings: Any investment income earned on investments held within the plan is tax-deferred, as long as it remains in your RRSP.
  • Tax Deductions: Your RRSP contributions are tax-deductible and may help to reduce the total amount of income tax you pay.
  • Optimizing Deductions: You can carry forward your unused RRSP contribution room from years of lower income and use it in future years when your income may be higher. This can help you benefit from tax savings when you’re in a higher tax bracket.
  • Income Splitting: If you earn more than your spouse or common-law partner, contributing to a spousal RRSP may help reduce the total amount of tax you pay.
  • Financing your First Home or Education: You can withdraw money from your RRSP without being immediately taxed to pay for your first home or education, under the Home Buyers’ Plan or Lifelong Learning Plan (LLP)2.

When can I withdraw my money?

You can make a withdrawal from your RRSP any time4 as long as your funds are not in a locked-in plan, but withdrawals will generally be included in your income and subject to tax in the year of withdrawal.

Usually, a portion of the withdrawal will be withheld and remitted to the government as a prepayment of the income tax you will owe for the year.

Depending on the amount of taxable income you’re earning in the year of withdrawal, it may be beneficial to put off making withdrawals until a year in which your taxable income will be lower.

In addition, unlike withdrawals from a tax-free savings account (TFSA), withdrawals from an RRSP are not added back to your contribution room in the year following the withdrawal.

How long can my RRSP stay open?

You are not allowed to own an RRSP past December 31 of the calendar year you turn 71.

At that point, you’ll have to withdraw funds from the RRSP as a lump sum, transfer its contents to a Registered Retirement Income Fund or purchase an annuity.

  • Your investment gains grow tax-free


What is a TFSA?

The TFSA program began in 2009. It is a way for individuals who are 18 years of age or older and who have a valid social insurance number (SIN) to set money aside tax free throughout their lifetime.

Contributions to a TFSA are not deductible for income tax purposes. Any amount contributed as well as any income earned in the account (for example, investment income and capital gains) is generally tax-free, even when it is withdrawn.

Administrative or other fees in relation to a TFSA and any interest on money borrowed to contribute to a TFSA are not tax-deductible.

Who can open a TFSA?

Any individual who is 18 years of age or older and who has a valid SIN is eligible to open a TFSA.


The maximum amount that you can contribute to your TFSA is limited by your TFSA contribution room.

All TFSA contributions made during the year, including the replacement or re-contribution of withdrawals made from a TFSA, will count against your contribution room.


Qualifying transfers, exempt contributions and specified distributions are not considered in the calculation of contribution room.

At any time in the year, if you contribute more than your allowable TFSA contribution room, you will be considered to be over-contributing to your TFSA and you will be subject to a tax equal to 1% of the highest excess TFSA amount in the month, for each month that the excess amount remains in your account.

You do not need to have earned income to contribute to a TFSA.

As the account holder, you are the only person who can do the following with your TFSA:

  • make contributions
  • make withdrawals
  • determine how funds are invested

You can give your spouse or common-law partner money to contribute to their own TFSA without having that amount, or any earnings from that amount being attributed back to you, but the total contributions you each make to your own TFSAs cannot be more than your TFSA contribution room.

Contributions made to a TFSA are not tax-deductible.

Management fees related to a TFSA trust and paid by the holder are not considered to be contributions to the TFSA. The payment of investment counsel, transfer, or other fees by a TFSA trust will not result in a distribution (withdrawal) from the TFSA trust.

TFSA contribution room

Your TFSA contribution room is the maximum amount that you can contribute to your TFSA.

Since 2009, your TFSA contribution room accumulates every year, if at any time in the calendar year you are 18 years of age or older and a resident of Canada.


Only contributions made under a valid SIN are accepted as TFSA contributions.

You will accumulate TFSA contribution room for each year even if you do not file an Income Tax and Benefit Return or open a TFSA.

The annual TFSA dollar limit for the years 2009 to 2012 was $5,000.

The annual TFSA dollar limit for the years 2013 and 2014 was $5,500.

The annual TFSA dollar limit for the year 2015 was $10,000.

The annual TFSA dollar limit for the year 2016 and 2018 was $5,500.

The annual TFSA dollar limit for the year 2019 is $6,000.

The TFSA annual room limit will be indexed to inflation and rounded to the nearest $500.

Investment income earned by, and changes in the value of your TFSA investments will not affect your TFSA contribution room for current or future years.

What is Annuity Insurance?

An annuity is a life insurance contract that provides a regular, usually monthly, income during the life of the purchaser, with the option of payments continuing for the life of the surviving spouse. There is also the option of a guaranteed minimum number of payments, but taking either or both the options would reduce the annuity’s regular payment. Here’s how an annuity works: you make an investment in the annuity, and it then makes payments to you on a future date or series of dates. The income you receive from an annuity can be doled out monthly, quarterly, annually or even in a lump sum payment.

The size of your payments are determined by a variety of factors, including the length of your payment period. You can opt to receive payments for the rest of your life, or for a set number of years. How much you receive depends on whether you opt for a guaranteed payout (fixed annuity) or a payout stream determined by the performance of your annuity’s underlying investments (variable annuity).

While annuities can be useful retirement planning tools, anyone who considers an annuity should research it thoroughly first, before deciding whether it’s an appropriate investment for someone in their situation — let Shivam Financial Services assist you.

Immediate or Life Annuities

Canadians are generally familiar with immediate or life annuities, which provide a fixed payout for life. Payouts are a function of two things: mortality tables and interest rates. As with life insurance policies, the annuities marketed by life insurance companies pool mortality risks, and payout rates are partially determined by actuarial calculations of the probabilities of some people dying before their average life expectancy and some people exceeding their life expectancy.

Interest rates determine payout schedules according to the (relatively) riskless investment policy life insurance companies adopted. While insurance companies invest in many types of investment vehicles, their reserve requirements — the amount of money they have to set aside in safe investments such as government T-bills, for example — limits the capital they can invest. Contact us today for more information on how to get your Annuity Insurance plan started.


What is investment loan

Clients usually borrow for one of two reasons, either:

  • To buy a big ticket item, like a car, which generally decreases in value over time or,
  • To purchase a big-ticket that has the potential to increase in value over time, like a home or RSP.

With an investment loan, clients borrow to make a lump sum investment purchase that has the potential to grow in value over time.

An investment loan has the potential to generate greater returns for your client than a traditional investment strategy. Here’s why:

  • Accelerates savings through a larger initial upfront investment and compound returns.
  • Compound returns on an investment means that returns are calculated not only on the initial investment, but also on the accumulated growth from year-to-year.
  • Generally speaking, interest paid to borrow money to earn investment income is tax deductible. When the interest is deducted, it can be an effective way of reducing the overall cost of an investment lending strategy. Interest is not deductible in all circumstances.

For example, if the only earnings produced by the investment are capital gains, interest paid cannot be claimed. Additional restrictions apply for residents of Quebec. Please consult with a tax specialist for information on deducting interest.

What are the benefits

  • Investment gains have the potential to reach financial goals faster.
  • A lump sum investment starts compounding right away, rather than waiting to build your savings with a traditional strategy.
  • There are potential opportunities to reduce overall cost of an investment lending strategy through tax deductions.

What are the risks

  • Leveraging involves greater risk than purchasing investments using only your own cash resources because it has the potential to magnify investment losses.
  • You are required to repay the loan, including interest, regardless of the investment return.
  • An investment loan may limit your access to credit due to the outstanding debt of the loan. (specifically access to other credit products, e.g. mortgages, HELOC, etc)

Who benefits from the Investment Loan

In general, investors who may benefit from from investment loans will have:

  • A long investment horizon 
  • Available cash flow
  • A high risk tolerance

Your Requirements:
First Annuitant :
Second Annuitant :
Personal Information: