All about Canadian investments. Learn the ins and outs and get the latest news.
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The best GIC rates in Canada for 2024 + MORE May 28th
Investing
The best GIC rates in Canada for 2024
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.
Find the best rate
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Making sense of the markets this week: February 18, 2024 Feb 16th
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
Shopify struggles
Canada’s second-largest company (or third, depending on the day) had a relatively strong earnings da.... More »
Best online brokers in Canada for 2024 + MORE Jun 6th
This is our 12th year helping Canadian investors find their optimal financial partner to enhance their self-directed investing journey. There’s never a bad time to highlight the ins and outs of do-it-yourself investing and help newer investors understand what defines an online broker in Canada.
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Making sense of the markets this week: April 21, 2024 + MORE Apr 19th
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
Canada’s unproductive budget
After talking a lot about how we really—finally—need to get serious about the decades.... More »
Making sense of the markets this week: May 19, 2024 + MORE May 17th
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
Inflation is down, so stocks go up
The correlation between lowering inflation rates and inflated stock prices conti.... More »
You opened an RESP—now what?
– moneysense.ca
As many Canadian parents and grandparents know, a registered education savings plan (RESP) is a powerful savings tool. Although you can create a college or university fund for your child in other ways, such as a bank account or a tax-free savings account (TFSA), they don’t offer the same valuable government grants that an RESP does. It’s designed to encourage families to save, and the only way to get those grants is to make contributions. In addition, an RESP can hold the same types of investments as TFSAs and other registered accounts, and any investment growth in an RESP—including interest, dividends, and capital gains—is tax-deferred until it is withdrawn. (And when it is, it will be taxed in the hands of the plan’s beneficiary—your child, who will likely pay little to no tax.)
Once you’ve opened an RESP for your (grand)child or (grand)children, though, what should you do with it?
How often and how much to contribute to an RESP
Ideally, you should contribute at least $2,500 per year, if possible…
