Financial Literacy Hub

The PSRT Difference

First and foremost, PSRT was created by Members for Members. 

Before you explore the financial literacy videos and trainings below, we encourage you to learn more about how and why the Trust was created. 

To help Members understand the benefits of holding your investment accounts at PSRT, the Trustees have created a short course explaning the PSRT Difference. Click here to access the course (use your PSRT username and password to log in).  

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Financial Literacy Videos for Members

You and Your RRSP

Have you ever wondered what's the big deal about RRSPs?
A Registered Retirement Savings Plan (RRSP)  is a particular account registered with a Canada Revenue Agency. When you contribute funds to an RRSP, you receive two significant benefits. First, you'll get a tax deduction for the year you deposit money into your RRSP. Second, not only do you save on taxes for the current taxation year, but any growth in your account (interest, capital gains, dividends) will not be taxed until you withdraw from the RRSP.

Watch the video to learn more about You and Your RRSP. 

Investment Objectives

There are four primary investment objectives: safety, income, growth, and tax savings.

You and your financial advisor use them to help determine how your funds could be invested. For example, if an elderly widow with little income wants to invest her life savings, she will be concerned with safety and income. Whereas a young, single lawyer with a healthy income and relatively few financial obligations will likely be more interested in pursuing growth through her investments.

Watch the video to learn more about investment objectives.

Increasing Your Net Worth

Net worth is a good measure of a person's wealth in terms of their financial position. Net worth includes the total value of your assets, home, other properties, cash on hand, stocks, and bonds—minus any liabilities like mortgage debts, personal loans are credit card debts.

There are two ways to increase your net worth. You can either grow your existing capital by saving a part of every dollar you earn (and invest those funds wisely over the long term) or reduce your total debt load. 

Watch the video to find our more about increasing your net worth. 

Planning for Your Financial Future

In building sustainable wealth, a person has to plan for the present and future. You must provide for present needs and secure your family's financial future, especially for the inevitable end when you are no longer around. In panning for your financial future, what are the decisions you need to consider, and how can you put a successful plan in place? 

Watch the video to learn more about the six essential elements to consider when planning for your financial future. 

Term vs. Permanent Life Insurance

There are two types of life insurance: term life insurance and permanent life insurance (also known as whole or universal life insurance). When planning for the present and the future, it is critical you understand the differences and costs associated with both.

Watch the video to find out more about each type of insurance and how to choose which might be better for you in the long run

Are you unsure about what is required to file your 2023 taxes?

Is your Accountant asking you to withdraw funds from your Group RSP
or to complete an T1-OVP?

Wait! The Trustees have prepared the following document to help:

Tax Time - Filing Guide
An overview of PSRT plan procedures for your annual taxes. 

Wealth Management Certificate

Have you calculated your net worth? Do you have a plan for your retirement? Do you know that if you have a Group RRSP, you need to fill out specific forms at tax time?

Our Wealth Management Certificate, brought to you by the PSRT Trustees, will cover the basics of investments and planning for your future and some specifics (Over-contribution to your PSRT Group RRSP) for Members.

You have nothing to lose and everything to gain. Take this wealth management educational certificate with your partner/spouse and plan for your future together. 

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The content on this page is provided as information only and should not be construed as financial advice.