ATB Wealth views January not as a month of restriction, but as a good time to review and reset. They know that it is the ideal time to transition from reactionary spending to purposeful investing, ensuring that personal wealth works as hard as you do in your career.
Here is a quick overview to maximizing your contributions and setting up an investment strategy for your busy year ahead.
The calendar flip brings an immediate reset to your contribution limits. This is an opportunity to front-load your success and maximize tax advantages.
- TFSA: For 2026, every eligible Canadian receives a fresh $7,000 in Tax-Free Savings Account (TFSA) contribution room. This is your most
flexible tool with tax-free growth and withdrawals. Contributing early in Q1 maximizes your compounding time. Over a 20-year horizon, those extra months of growth add up significantly. If you are balancing post-holiday debt, prioritize high-interest balances first, then automate small, consistent contributions to your TFSA. - RRSP: The deadline for your 2025 tax year contributions is March 2, 2026. A strategic contribution now to your Registered Retirement Savings Plan
(RRSP) can significantly reduce your 2025 taxable income, potentially resulting in a tax refund. Use that tax refund to immediately fund your
2026 TFSA or First Home Savings Account (FHSA). This creates a “tax-efficient cycle” that builds momentum without extra strain on your
monthly cash flow. - FHSA: If homeownership in the Okanagan is on your 2026 vision board, the First Home Savings Account (FHSA) is a game-changer. It offers the best of both worlds: tax-deductible contributions (like an RRSP) and tax-free qualifying withdrawals (like a TFSA)
Building wealth requires more than just making contributions; it requires an investment strategy tailored to your specific life stage. Now is a great time for a portfolio review, to make sure your financial plans for 2026 align with your current portfolio. Connect with an ATB Wealth advisor this month, and they can help you design a plan that reflects your ambition and provides peace of mind. Move forward with clarity and confidence!
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Securities Inc. are individually licensed users of ATB Wealth. ATB Securities Inc. is a member of the Canadian Investor Protection Fund and the Canadian Investment Regulatory Organization.
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