There are plenty of retirement plan options in Canada! Stay on top of the best plans right here.
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Stock news: Canada’s big banks raise dividends after strong Q2 earnings May 30th
Here’s a round-up of news for Canadian investors this week.
BMO
National Bank
Scotiabank
CIBC
TD Bank
RBC
Featured RRSP Accounts
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EQ Bank
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Can you maximize your RRSP and TFSA with an income of $0? Feb 22nd
Ask MoneySense
I have $119,000 room allowed in my RRSP and $81,000 room in my TFSA.
I am 47, live in B.C., currently not earning income as a caregiver for a parent. I have a business with a registered GST number to claim income now or in the future. But for my question, let’s assume I will be c.... More »
How to confirm your CPP pension + MORE Apr 11th
How do I know if I’m receiving the correct amount of CPP?
—Flora
Most people who work in Canada between ages 18 and 65 will have some entitlement to the Canada Pension Plan (CPP). Employees and their employers make payroll contributions to the pension. Self-employed people contribute the.... More »
Selling stocks at a loss in a TFSA: What it means for your contribution room Apr 12th
Ask MoneySense
I lost $20,000 dollars in my TFSA account in the market correction, and my broker sold the losing stocks. Can I put more money in to bring me back up the to the limit the government allows?—Wayne
Capital losses in a TFSA
A capital loss is when you sell an investment at a lowe.... More »
How much money do you need to retire in Canada? Is it really $1.7 million? + MORE Mar 1st
Retired Money highlights
Canadians think they need $1.7 million to retire, according to a BMO pollHow to save $1.7 million in RRSPsOther factors for determining how much you need to save for retirement
If you’re just starting out on the long road to saving for retirement, you may have heard ab.... More »
The best RRSP investments 2022
– moneysense.ca
A registered retirement savings plan (RRSP) is an investment that is registered with the Canadian federal government. RRSPs are often described as being “tax-advantaged.” That means you don’t pay income tax on the amount you are contributing to an RRSP, in the year you earn that contribution. However, you will have to pay income tax when you withdraw money during your retirement. The advantage is built on the assumption that your income is higher now than it will be in retirement. If you plan things right, you will be in a lower tax bracket in retirement, meaning that you pay less tax on your withdrawals than you saved initially by stashing your money inside an RRSP.
You can open an RRSP and contribute income up until the year you turn 71, at which point it has to become a registered retirement income fund (RRIF) and you begin to withdraw the money as taxable income. Read on to learn about the best RRSP accounts in Canada.
The best RRSP accounts in Canada for 2022
Best RRSP savings account: EQ Bank RSP Savings Account* (1…
