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Intel’s Weak Earnings Put Futures on Ice After a Choppy Week

U.S. stock futures lost momentum Friday morning as Wall Street tried to steady itself after several days of sharp swings. Dow futures slipped, while S&P 500 and Nasdaq futures hovered slightly lower, signaling a cautious start to the trading day. The hesitation came largely from Intel’s disappointing earnings report. The chipmaker’s results and weaker outlook weighed heavily on tech sentiment, sending its shares sharply lower in pre‑market trading. Investors had hoped for stronger numbers given the industry’s AI‑driven momentum, but Intel’s update suggested ongoing challenges in key segments like data‑center chips. The broader market has been wrestling with volatility all week, driven by shifting economic expectations and uneven corporate results. With the S&P 500 on track for another weekly decline, traders appear reluctant to make big moves until they see clearer signs of stability.
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RRSP 2024 Deadline: What You Need to Know (and Whether You Should Contribute)

 


As the RRSP contribution deadline for 2024 approaches, it’s essential to understand the basics of Registered Retirement Savings Plans (RRSPs) and make informed decisions about your financial future. Let’s dive into the key points:

What Is an RRSP?

An RRSP (Registered Retirement Savings Plan) is a tax-sheltered investment vehicle available to Canadians. Here’s how it works:

  1. Tax Deductions: Contributions to your RRSP are tax-deductible. When you contribute, your effective earned income decreases, resulting in a lower marginal tax rate.
  2. Tax-Deferred Growth: Any gains made within an RRSP are tax-deferred. You only pay taxes when you withdraw funds.
  3. Annual Contribution Limit: RRSPs have an annual contribution limit, which carries over any unused room from previous years.

RRSP Contribution Deadline for 2024

The RRSP contribution deadline for the 2023 tax year is February 29, 2024. Contributions made during the first 60 days of the year can be applied against the previous taxation year or any subsequent year.

Why Contribute to an RRSP?

  1. Tax Benefits: RRSPs offer attractive tax characteristics. Contributions are both tax-deductible and tax-deferred.
  2. Retirement Planning: RRSPs help you prepare for retirement by building a nest egg.
  3. Investment Flexibility: RRSPs can hold various investment vehicles, including bonds, mutual funds, equities, and more.

Should You Contribute?

While RRSPs remain stalwart financial choices, some experts advise caution. Consider the following factors:

  1. Stretching Finances: Many Canadians feel stretched when saving for retirement.
  2. Alternatives: Newer options like the First Home Savings Account (FHSA) may be worth exploring.
  3. Individual Circumstances: Assess your financial situation and goals before contributing.

Remember that RRSPs play a crucial role in long-term financial planning. Consult with a financial advisor to determine the best approach for your unique circumstances.

Maximize your RRSP contributions where possible, stay informed about deadlines, and make decisions that align with your financial objectives. Whether you’re a seasoned investor or just starting, RRSPs remain a valuable tool for securing your financial future.


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