There are plenty of retirement plan options in Canada! Stay on top of the best plans right here.
Latest News
Retirement taxes explained: Withholding, clawbacks, and other surprises Sep 19th
Many working-age Canadians wonder what the impact of retirement will be on their tax situation. As you save and build wealth, it is important to plan for the eventual tax treatment of your retirement assets and income as you approach that transition.
Taxation in Canada
When you are.... More »
Financial paralysis and how to get moving again + MORE Feb 28th
New findings from the Credit Counselling Society’s (CCS) 2026 Consumer Debt Report reveal a concerning pattern in how Canadians are experiencing debt. Under cost-of-living pressures, many are increasing their debt load, relying on credit to make ends meet. And while they’re making their minimum .... More »
Sean Wilson, financial advisor Feb 21st
Meet Sean Wilson
Sean Wilson is a Certified Financial Planner and founder of Moraine Wealth Advisory, a boutique financial planning firm specializing in helping Canadian physicians and business owners achieve their financial and life goals. With many years of experience in financial services, he.... More »
How annuities work in Canada + MORE Apr 18th
Annuities are life insurance products that pay a regular income to a purchaser. When you buy an annuity, it’s like buying a pension plan with a lump sum premium paid from your savings. The payments you receive include a return of your original capital and interest income on that capital. It ma.... More »
Paying yourself first Nov 2nd
There is perhaps no single piece of financial advice more frequently repeated than “pay yourself first.” And with good reason. It’s tough to grow savings if you prioritize all your spending needs and wants ahead of putting money away. While some of us fully intend to stash whatever is left at .... 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…
