Ksh*tij Gupta-Financial Professional

02/11/2025

Do the New CPP Changes Mean You Can Skip RRSPs and TFSAs?

As Canada rolls out improvements to the Canada Pension Plan (CPP), many people are asking: Should I still save using RRSPs and TFSAs? The quick answer?

Yes, you should definitely keep saving.

Here’s why: While the CPP is gradually increasing the portion of income it replaces in retirement—from 25% to 33%—most Canadians nearing retirement today won’t see much benefit. These changes won’t fully take effect until 2070, and even then, the maximum CPP payout will still be relatively modest. For perspective, the average monthly CPP payment for new retirees in early 2024 is just $831.92. That’s barely enough to cover basic bills, let alone fund a comfortable retirement.

A recent survey revealed a stark reality: 40% of Canadians aged 50+ feel they can’t afford to retire, especially those without workplace pensions. This gap highlights why personal savings remain critical.

RRSPs and TFSAs are still your allies. These accounts offer unique tax benefits and flexibility, helping you build a safety net beyond government programs. For example:

- RRSPs lower your taxable income now while growing savings tax-free.
- TFSAs let you invest and withdraw money tax-free, perfect for retirement or emergencies.

The bottom line? Don’t rely on CPP alone. Work with a financial advisor to create a plan tailored to your lifestyle, goals, and timeline. Retirement might feel far off, but the sooner you prepare, the more options you’ll have.

Let’s chat—how are you planning for the future?
Contact me at (587) 599 0911 📲

09/21/2023

Knowing how money works has never been more
critical. But it’s becoming an increasingly rare skill
among Canadians.
How do we figure out how to build wealth, save
for retirement, and leave money for our kids? We
are surrounded by money and opportunity but
don’t know to convert them into personal wealth.
Contact me and start getting answers to these
important questions.

09/15/2023

If you want to improve your financial literacy and
help realize your dreams, it’s time to start having
conversations about money.
You need to talk to your friends, co-workers, and
family about money. You should start asking
questions. Questions like, “How do I protect my
family if something happens to me?”
By understanding and paying attention to all the
things that make up your financial picture, you
have the power to take control of your financial
future.
Contact me and start getting answers to these
important questions.

02/24/2022

Last few days left for the RRSP contribution for the last year. Don’t miss out if you are looking to save taxes and get a possible nice tax refund which can be further utilized is a good way. Ping me for detailed information!

02/17/2022

Although there should be nothing like a season but This duration of the year is somehow the season of investments, specially RRSP.

Key 5 things to check out before investing:

1. Pull out the previous statements and check the rate of returns and see where does that stand.

2. Don’t overfunded the account, you might get the penalties.

3. Most people I meet everyday have no idea where the money is invested. So check out where exactly is your money sitting.

4. If you are at a higher tax bracket then there are other ways to save more taxes through RRSP only.

5. Most important is how to utilize the tax refund in a best possible way.

You can always get back to me if you need any further information.

The cut out date is approaching soon.

Have a wonderful day!

I am an Entrepreneur working in the financial industry

04/01/2020

Well this is for sure that we have to embrace the power of technology. While everyone is sitting at home the choice is ours on what we should be doing.

Some people take it negatively posting videos of day 1 to day 10 and so on and how they are struggling in passing their time, but we need to understand that we need to adapt to the situations.

I must say it’s been a different experience with us. We are taking this positively, while more and more time is there to spend with family but also we are able to connect with a lot of people over the zoom calls. Well actually I find this better where we are able to save our time and also the other person’s time as well. Sitting at the comfort of your home we can discuss everything.

Also this is the time to upgrade ourselves as well. While people are on Netflix they can be utilizing this time to learn how financial industry works , how can they be ready for the next virus or whatever, how to have a back up or the emergency funds and so on.

Let me know if you need more information on how to get all these things while sitting at your home.

Stay safe!

03/05/2020

Like a home to live in there is something called as Financial home as well. Everyone knows that the most important part of the home is the foundation and same applies to the financial home as well.

The foundation of the financial home is the ability to earn income. After foundation comes the structure which is all the investments we do in our life time, but what I want to talk about here is the roof which in most cases is neglected most of the times in the financial home.

First question which needs to be asked is Do you have a will?

Second question is that is there any right age to have a will?

Lastly what are the consequences if you don’t have a will?

Well if you are looking for more information then get back to me and we can have a detailed discussion about it. Have a great day everyone!

02/18/2020

CTB- Child Tax Benefit. All of us here in Canada receive CTB if we have kids and are eligible for CTB.

But the big question is : Are we utilizing that in the best possible way for our kids. Or is that money going somewhere in our long list of bills. Or we have taken some steps but is that the most productive way.

There are so many productive ways to effectively utilize that.

You can always get back to me if you think we can discuss it out to get more knowledge.

Time to take action!

02/15/2020

This one is very important personally for me and wanted to share this with my friends as well.

Anyone who is a home owner or going to be, check if you have the mortgage insurance or life insurance to cover the mortgage amount.

This topic is very close to me. Anyone who wants to discuss what are the advantages and disadvantages, please get back to me at 5875990911.

02/13/2020

Although there should be nothing like a season but This duration of the year is somehow the season of investments, specially RRSP.

Key 5 things to check out before investing:

1. Pull out the previous statements and check the rate of returns and see where does that stand.

2. Don’t overfunded the account, you might get the penalties.

3. Most people I meet everyday have no idea where the money is invested. So check out where exactly is your money sitting.

4. If you are at a higher tax bracket then there are other ways to save more taxes through RRSP only.

5. Most important is how to utilize the tax refund in a best possible way.

You can always get back to me if you need any further information.

The cut out date is approaching soon.

Have a wonderful day!

02/12/2020

Hello facebook friends! I am taking a new initiative to reach out to all the friends whom i know across North America. I will be sharing some very useful information on regular basis related to financial industry, which can either help you or someone whom you know. In case you find the information useful or want to know more, you can always get back to me sending a personal message or the message on the post itself. looking for all your support!