Monthly newsletter — January 2024

We'd like to wish you a happy and healthy new year! We hope that 2024 brings you happiness and prosperity.

A new year means new contribution limits!

Here's how much you can contribute to various plans in 2024:

Defined contribution (DC) pension plans: $32,490
Defined benefit (DB) pension plans: $3,610
Registered retirement savings plans (RRSPs): $31,560
Tax-free savings accounts (TFSAs): $7,000
Deferred profit sharing plans (DPSPs): $16,245
Advanced life deferred annuities (ALDAs): $170,000
Yearly maximum pensionable earnings (YMPE): $68,500
Year's additional maximum pensionable earnings (YAMPE): $73,200

Don't worry, we'll provide you with guidance on your contributions. Remember: There are penalties if you contribute too much, and you could miss out on some savings if you don't make the most of your contribution room.

That's why we've prepared a calendar to help you find the right balance. Each month, you'll know what you need to do and you'll see reminders of important dates that could impact your wealth or retirement planning.

Our calendar will be available on our website shortly.

In the meantime, here are some interesting articles we'd like to share. Remember, we're here to help you manage your money. Happy reading, and feel free to reach out if you have any questions.

No one can predict how financial markets will behave with absolute certainty. Here's why

But is it really possible to accurately predict the behaviour of financial markets?

Read the article - External link.

How economists got the economy wrong

Over the past 3 years, the global economy has been reeling from the impact of the pandemic and rising inflation and interest rates. Consequently, some economists' predictions have been at odds with the actual market results.

Read the article - External link.

Have restaurants priced themselves out of reach?

Many of us are feeling the pinch of rising prices at the grocery store and in restaurants. A recent survey suggests that people are changing their habits in response to soaring food costs. Are you among the 80 percent of people who said they're eating out less? See how people are choosing to keep more money in their wallets when dining out.

Read the article - External link.

Each Desjardins Securities advisor named on the front page of this document, or at the beginning of any subsection hereof, hereby certifies that the recommendations and opinions expressed herein accurately reflect such advisor’s personal views about the company and securities that are the subject of this publication and all other companies and securities mentioned in this publication that are covered by such advisor. Desjardins Securities may have previously published other opinions, including ones contrary to those expressed herein. Such opinions reflect the different points of view, assumptions and analysis methods of the advisors who authored them. Before making an investment decision on the basis of any recommendation made in this document, the recipient should consider whether such recommendation is appropriate, given the recipient’s particular investment needs, objectives and financial circumstances.