Registered Retirement Savings Plans (RRSPs) help Canadians save towards retirement and offer certain tax benefits. Tax-free Savings Accounts (TFSAs) are a savings vehicle that Canadians can use towards retirement or…
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Investing in an RRSP and TFSA as a business owner
…and Tax-Free Savings Accounts (TFSA) are often used to help achieve personal retirement goals. Investing in a Registered Retirement Savings Plan (RRSP) RRSP contributions are tax deductible and investments grow tax-free. If you are currently…
Investing for growth, income or both
…your money, you likely won’t want an investment that locks in your money until a set date. For example, some guaranteed investment certificates (GICs) lock in your savings. Others let…
How to avoid holiday debt
…money on, compare this with how much you can reasonably afford. Set a budget limit. This can come from your normal monthly budget, or perhaps you have a savings account…
Reducing your estate costs
…plan account, you can name a beneficiary to receive the money when you die. This means the money bypasses the estate process and is paid directly to that person. Because…
Needs versus wants
…first. Then, you’ll have a sense of how much spending room you have for wants. You might also free up more money to put towards savings. Your needs and wants…
How do credit cards work?
…money into savings or an investment that will earn you interest. Learn about strategies to pay down debt. Calculate paying off your credit card Use the calculator below to see how long…
Types of investments
…money on bonds by holding the bond until the maturity date and claiming the interest, or by selling a bond for more than you paid. You can lose money on…
When to review your plan
…or maybe finding a life partner. Spending is often greater than income. Paying for post-secondary education Buying consumer items (car, home furnishings) Building up savings Paying off debt Building a…
Government grants and bonds for an RDSP
…Disability Savings Grant (CDSG) Canada Disability Savings Bond (CDSB) Carrying forward unused grant and bond entitlements When it’s necessary to repay the grant and bond Canada Disability Savings Grant (CDSG)…