The introduction of the Tax-Free Savings Account (TFSA) in 2009 presented the most important change to the way Canadians save money. RRSPs were launched in the 1950s. But the big question on many people’s minds is whether they should contribute to a Tax-Free Savings Account (TFSA), the tried-and-tested RRSP, or both?
A Registered Retirement Savings Plan (RRSP) is a great way to invest for retirement and reduce income taxes. But, like most good things, it must come to an end. You are required by law to wind-down your RRSP by the end of the year in which you turn age 71. In reality, most people start […]
Please note: This article is not applicable in Quebec. Do you have a Registered Retirement Savings Plans (RRSP) or a Registered Retirement Income Funds (RRIF)? Designating a beneficiary to your RRSP or RRIF is often presented as sound financial planning, since doing so can avoid probate and probate fees. However, a direct beneficiary designation can […]
Creating an investment portfolio today to help fulfill your dreams for tomorrow can seem difficult at times, especially when every day brings the reality of utility bills, mortgage payments, car loans or lease payments and other demands on your hard-earned money. Here are some methods on how to properly invest, on a consistent basis.
