TSX getting you down? There are always sound investment alternatives.
Latest News
What does a weak Canadian dollar mean for your savings? + MORE Feb 25th
It’s the financial news story that everyone is talking about: The Canadian-to-U.S.-dollar exchange rate has been very unfavourable for the loonie lately.
How unfavourable? Since the beginning of the year, the Canadian dollar’s trading value has fluctuated between roughly USD$0.69 and $0.70—.... More »
Should you buy a vacation property? Aug 25th
The benefits of owning a vacation property are obvious. A cottage, cabin, condo or trailer a short drive from your home can provide a quick weekend recharge. A property down south can serve as a regular vacation destination or extended winter stay for a snowbird.
There are many emotion-driven reason.... More »
Top 5 questions about family RESPs + MORE May 13th
If you’re saving up for a child’s post-secondary education, a registered education savings plan (RESP) can’t be beat as a savings tool. No other plan or account in Canada will give you access to thousands of dollars in government grants—free money for your kid’s future tuition and other ed.... More »
Is this a good time to buy a home in Canada? + MORE Sep 11th
Before the Bank of Canada (BoC) began lowering its benchmark interest rate earlier this year, some analysts predicted that falling rates would spark a significant turnaround in the real estate market. But even after three consecutive rate cuts, that scenario hasn’t played out.
“Markets’ r.... More »
Alibaba Stock and Tencent Are Tumbling. This Time, Blame the Metaverse. - Barron's + MORE Feb 21st
Alibaba Stock and Tencent Are Tumbling. This Time, Blame the Metaverse. Barron'sView Full coverage on Google News.... More »
TFSA vs RRSP: How to decide between the two
– moneysense.ca
One of the most common questions out there is whether to invest in a registered retirement savings plan (RRSP) or a tax-free savings account (TFSA). Both will help you save, and save on taxes, but each works in different ways. Understanding these investments will help you know when to use one or the other—and when you can use both in tandem.
What is a TFSA?
First introduced to Canadians in 2009, the TFSA has proven to be very popular. Each year, you get an allotment of $6,000 available for your TFSA, which means that you can put that amount away, plus any rollover from previous years (assuming you were 18 or older in 2009, you have a lifetime limit of $69,500 as of 2020). This money has already been taxed—you contribute to a TFSA from your net income—so there’s no tax break at the time of contribution. But any gains you earn in a TFSA—whether it’s from a savings account, a high-growth index fund or another investment product—aren’t subject to capital gains tax, so you won’t owe any tax on your earnings when you make a withdrawal…
What is a TFSA?
First introduced to Canadians in 2009, the TFSA has proven to be very popular. Each year, you get an allotment of $6,000 available for your TFSA, which means that you can put that amount away, plus any rollover from previous years (assuming you were 18 or older in 2009, you have a lifetime limit of $69,500 as of 2020). This money has already been taxed—you contribute to a TFSA from your net income—so there’s no tax break at the time of contribution. But any gains you earn in a TFSA—whether it’s from a savings account, a high-growth index fund or another investment product—aren’t subject to capital gains tax, so you won’t owe any tax on your earnings when you make a withdrawal…
