INVESTMENT
Planning
We think it’s important to begin planning for retirement early, even if it’s in small steps. This can have a significant impact throughout your working years. When you start investing for retirement in your twenties, it helps establish good habits and build a strong foundation for your portfolio as your career and family grow. But don’t worry if you’re not starting early – we can still help. Our advisors can review your current investments and finances and create a short-term plan to adjust your retirement savings strategy.
Investments
TFSA
The Tax-Free Savings Account is a helpful tool for reaching your savings goals. It lets you earn investment income and capital gains without paying taxes on them.
You can use it to save money for different things like having an emergency fund, saving for a house down payment, or preparing for retirement.
RRSP
Registered Retirement Savings Plans (RRSPs) are a special type of investment that helps you save money for when you retire.
One good thing about putting money into an RRSP is that you can get a tax deduction for the amount you contribute. This deduction can lower your taxable income and, as a result, decrease the amount of taxes you have to pay.
RESP
Registered Education Savings Plans (RESPs) are special accounts made for parents to save money for their children’s college or university education. The great thing about RESPs is that they come with extra benefits like government grants and the ability to grow your savings without paying taxes until later.
RRIF
A Registered Retirement Income Fund (RRIF) is a retirement account that helps retired people receive a regular income. It does this by converting their RRSPs into taxable payments that they can withdraw regularly.
FHSA
A first-time home savings account is a special savings account that helps Canadians save money for the down payment on their first home. It’s designed to provide a tax deduction on the contributions made to the account, which means you can save on taxes while saving up for your dream home.
Non-Registered
Non-registered investments offer flexibility for saving money to meet short-term or long-term goals that are not within registered accounts. They can also provide tax benefits like special treatment for any profits you make and credits for taxes paid on dividends you receive.
