All about Retirement Planning in Canada. Learn the ins and outs and get the latest news.
Latest News
Best high-interest savings accounts in Canada 2022 + MORE Oct 5th
Generally, savings accounts offer very low interest rates. So, if you want to earn on your deposits (rather than simply using your account as a temporary “holding tank” or directing to longer-term saving and investing vehicles), a savings account with a high interest is a no-brainer.
Howe.... More »
How to be a better investor Mar 1st
For both beginner and experienced investors, focusing on a few basic guidelines can make the difference between good results and great ones. Whether you’re investing in a taxable account or a tax-sheltered account like a registered retirement savings plan (RRSP), doubling down on the basics can he.... More »
Watch: 4 things to consider before putting your money in a TFSA or RRSP Sep 28th
You know both can help lower how much income tax you pay—both are registered accounts, after all—but how do you decide whether to put your money into a tax-free savings account (TFSA) or a registered retirement savings plan (RRSP)? Watch this video to learn about the four things to consider befo.... More »
Stock news for investors: Canadian Natural boosts quarterly dividend after massive Q4 profit Mar 7th
Here’s a round-up of news for Canadian investors this week.
Canadian Natural Resources
Pet Valu
George Weston
Canada Packers
Featured RRSP Accounts
featured
EQ Bank
Build yo.... More »
Stock news for investors: Canopy Growth to acquire MTL Cannabis in $125-million deal + MORE Dec 20th
Here’s a round-up of news for Canadian investors this week.
Canopy Growth
Blackberry
Transat
Featured RRSP Accounts
featured
EQ Bank
Build your retirement savings with 1.50% in.... More »
Why contributing to a TFSA is a good resolution
– moneysense.ca
If nothing else, tax-free savings accounts (TFSAs) have been a boon to Canadian financial writers and bloggers. Two noteworthy examples: A blog on Boomer & Echo by CFP Robb Engen (also a MoneySense ETF expert panelist for the annual Best ETFs in Canada feature) comparing TFSAs to registered retirement savings accounts (RRSPs), and a Cash Flows & Portfolios blog that goes so far as to declare that the TFSA may be all one needs to retire on.
I don’t know about the second post, but I do agree we’ve come a long way from 2009. It was then when my wife and I made our own first tentative $5,000 contributions to our TFSA, thinking at the time it seemed like a mere drop in the bucket. Even then, right at the start of the new year, we maximized contributions to all our newly opened TFSAs, including our daughter’s, who was fortunate enough to have turned 18 just in time to qualify.
Every year since, as close to January 1st as possible, we faithfully add the maximum contribution amount (initially $5,000, briefly $10,000 and currently $6,000) to each of those accounts…
