A Registered Retirement Savings Plan (RRSP) can help you save and prepare for a fruitful, comfortable, and secure retirement. It can also provide some remarkable tax-benefits that can earn you more money over a lifetime of contributions. This article answers many of the questions that usually surround the RRSP savings account.
Tax-Free Savings Accounts (TFSAs) are catching on in Canada, with more than four in 10 Canadian households already contributing to one, according to the latest Census. Unfortunately, some investors are missing out on the full benefits … Read More
When you’re earning interest on your investments, you’re going to have to pay tax on the income if they’re sitting in a non-registered account. But if they’re held in a registered account—such as an RRSP—you can … Read More
In Ratehub.ca’s 2017 Digital Money Trends Report, we analyzed how Canadians are using technology to manage their money. We surveyed more than 1,000 Canadians for this report, and asked questions about people’s views on mortgages, credit … Read More
In 2016, a Statistics Canada study revealed that Canadian women had lower financial literacy scores than men and were less likely to consider themselves “financially knowledgeable” (31% of women versus 43% of men). Needless to say, our … Read More
Let me start off by saying (or writing in this case) that $100,000 in savings isn’t a huge accomplishment because it’s not enough to retire on in a city like Toronto. But saving a large amount … Read More
There are a lot of components to consider when planning your retirement. How much do you need to save? When you picture your retirement years, what do they look like? At what age do you want … Read More
An old saying is commonly paraphrased as ‘nothing is certain but death and taxes.’ The latter part is certainly true when it comes to your RRSP.
Baby boomers have been among Canada’s most efficient savers. They’ve taken solid advantage of RRSPs and corporate pension plans that require contributions from monthly paycheques. In some ways, it seems counterintuitive to look at savings opportunities … Read More
“Why God? Why are you doing this to us?” If you’re in your 30s, you’re old enough to remember Joey asking that question in Friends episode called The One Where They All Turn Thirty. It also … Read More