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A common set of accounting principles, standards, and procedures that companies follow when they prepare their financial statements.
Funds that invest in foreign securities. Can give investors a way to invest in companies and markets outside Canada, but there are risks investing in foreign countries and foreign currencies.
A bond issued by government - federal, provincial or municipal.
Your total personal income before you pay taxes or apply tax credits. Sometimes called "gross pay".
Insurance for a group, such as people who work for the same company, or belong to the same union or other association. Often costs less than insurance that you buy on your own, but not always.
A registered retirement plan that works a lot like a regular RRSP. You and/or your employer both put money for your retirement into the plan. Often, the money comes right off your pay so you won't be tempted to spend it first.
An RESP where your savings are invested in a pool with money from other plan members. If you drop out of the plan, or your child does not go on to studies after high school, the money made investing your savings is shared among the other plan members and the CESG is returned to the government.
A type of workplace savings plans. A group TFSA works the same way as an individual TFSA. While youll have a variety of investment options to choose from, you may have less choice than you would with an individual TFSA.
Funds that invest primarily in common shares of Canadian or foreign companies, but may hold other assets as well. The goal is typically long-term growth because the value of the assets held increases over time. Also called equity funds.
This involves picking companies that keep all their earnings to invest in growing their business. The stock may be expensive today, but growth investors believe that the companys future growth will help the stock continue to go up in price.
The change in a company's revenues, earnings, dividends, etc., over a set period of time. Often stated as a percentage.
Growth Rate Per Year is the annual growth of the investment after all market return and fees are taken into consideration. Often stated as a percentage.
An annuity that guarantees to make a set number of payments. If you die before the guarantee period ends, the money goes to your estate. If you live on after the guarantee period, payments will continue until your death.
Extra money from the government for people with low¬ incomes who get Old Age Security. What you get depends on your income or your joint income if you have a spouse or common-law partner. GIS is not taxable.
Like a GIC, but you buy them from a life insurance company, so you get different guarantees. And, you can name a beneficiary. The value grows as you deposit money and earn interest. Also called an accumulation annuity.
An investment that works like a special kind of deposit. Most GICs pay you a set rate of interest for a set length of time. Some GICs base what you get on the performance of a benchmark such as a stock exchange index.
Guaranteed minimum withdrawal benefit (GMWB) products are a combination of investments and insurance. This is known as a variable annuity. With GMWB products, you get a guaranteed minimum income from your savings each year starting as early as age 50 for some products. They also provide the potential for investment gains to help increase this income over time.
A person that you give the legal responsibility to care for a child or adult who cannot take care of themselves. There are different types of guardians for property or health.