Definition

Locked-in retirement account (LIRA)

An account that holds money moved out of a pension plan. You may use one if you are changing companies... Read Full Definition

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Showing results 101-110 of 124
Article

What to ask if you need to borrow money

…Registered Retirement Savings Plan (RRSP), you could get an RRSP loan as a way to contribute. Using an RRSP loan can ensure you contribute to your RRSP before the annual…

8 min read
Article

Strategies to pay down debt

…pay off that debt much faster. If you are considering cutting monthly contributions to your retirement savings or other large investment goals, it may be better to continue with smaller…

8 min read
Article

8 borrowing options

…first home or pay for education. However, when you borrow from your RRSP, the money you take out of the plan won’t be growing tax-free for your retirement and you…

3 min read
Article

Saving versus investing

…rate of inflation over longer time periods. This makes investing ideal for long-term goals such as retirement, a home purchase or future income. If you’ve already established a savings habit and…

5 min read
Article

Growing your savings with compound interest

…If you hold any of these investments within a registered account like a registered retirement savings plan (RRSP) or tax-free savings account (TFSA) you may be able to reduce or…

4 min read
Article

What happens to your RRIF when you die

…a grandchild Summary Why naming a beneficiary for your RRIF matters What happens to the money in your Registered Retirement Income Fund (RRIF) after your death – and the taxes…

4 min read
Article

RRIF fees

There is no set-up fee for most Registered Retirement Income Funds (RRIFs), but you may pay other fees once you open a plan. These fees may include an annual administrative…

2 min read
Article

How RDSPs work

…receive federal and provincial disability benefits. Similar to other types of registered savings plans like the Registered Retirement Savings Plan (RRSP), an RDSP can hold savings or investments, or both….

5 min read
Article

Investing and the COVID-19 Experience

…represents about 35% of all Canadians. However, over 8 in 10 of those saving towards goals like their children’s education or retirement continued to make progress towards these goals. Most…

3 min read
Showing results 101-110 of 124