What is a non-registered account and how does it work? + MORE Mar 4th

You could consider opening a non-registered account if you’ve reached the contribution limits of your registered accounts, like your registered retirement savings plan (RRSP) and tax-free savings account (TFSA). Unlike a registered account, a non-registered account doesn’t offer tax benefits, but it allows you to invest with fewer limits. And there’s a non-registered savings or investment account to suit every need—from the humble savings account to the supercharged margin account. Here’s everything you need to know about registered versus non-registered accounts.

What is a non-registered account?

A non-registered account is a savings or investment account that allows you to invest as much money as you want but does not provide any of the tax advantages of a registered account. For example, with a non-registered account, you don’t get the tax-free growth of TFSAs, nor the tax deductions and tax-deferred growth of RRSPs. Still, non-registered accounts are flexible—you can save or invest as much as you want, whenever you want, in a wide range of financial instruments, depending on the type of account you open…

Has worrying about debt or paying your bills kept you up at night? You’re not alone. Nearly half of Canadians (48%) are so stressed about their finances that they are losing sleep over it, according to FP Canada’s Financial Stress Index. In February 2023, a Scotiabank poll found that Canadians spend an average of 15 hours per week worrying about their finances (that’s the time equivalent of a part-time job), up from 10 hours last year. 

What impact could money stress have on your well-being? Twenty-nine per cent of Canadians who are dealing with financial troubles say they are experiencing high levels of anxiety, and 25% report high levels of depression, Mental Health Research Canada (MHRC) found in a poll conducted in the spring of 2023. 

How does your financial wellness impact your mental wellness, and vice versa? 

Challenges—like job layoffs, mounting personal debt and the inability to afford everyday essentials due to rising inflation—can be major stressors for anyone…