Kingsmill's Investment Miscellanea - Friday February 23rd, 2024

February 23, 2024 | Joshua Kingsmill


As we work through RRSP season, I found it interesting to read that in the US (and same for Canada), we are entering the “peak 65 zone”  This is the largest surge in American history of retirement age citizens turning 65. Over 4.1 million Americans will turn 65 each year through 2027. In the US, 19% of those over 65 are still participants in the labour force, which is also the highest percentage it's ever been.


RRSP contributions are for many of us, a significant portion of our retirement income strategy.  As the number of Canadians who turn 65 increases, so too does the importance of the savings and retirement strategies for that cohort.   Regular RRSP contributions make sense in many situations, but there are often compelling reasons not to.  Avril and I have been reaching out and processing RRSP contributions, and helping determine what the optimal amount should be.



This year, we have an extra day to make those contributions: right up to the end of day, February 29th. When Julius Caesar created the Roman calendar, he introduced an extra day every 4 years, based on the Egyptian solar calendar. FUN FACT: This year, about 5 million people around the world will be celebrating their birthday on this Leap year, including Superman! So, Avril and I aren’t Supermen: please don’t wait until Feb. 29th at 3:30 to make that contribution!