Tax-free? Is there such a thing? Apparently, there is. A Tax-Free Savings Account (TFSA) is a registered general-purpose savings vehicle with one goal in mind – to help you meet your long-term savings goals. The accounts are flexible, and allow you to earn tax-free investment income. Not only that, but they complement other savings plans, such as RRSPs and RESPs.
Most investments require a certain amount of risk. The goal is to strike that balance between risk and reward. Before making any type of investment you should first determine your own risk comfort level. To do this, consider the following questions.
Observing Financial Literacy Week is a great idea. But there are 51 other weeks in a year where you should also be concentrating on how to reduce costs, save money, and improve your investments for the future. Here are five areas to focus on.
First off, congratulations to you. You followed your gut instincts and launched a business. Now, truly against the odds, it’s not only survived, but is flourishing. However, owning a successful business does not necessarily equate to a successful retirement plan. Here’s a look at some options to help ensure you retire the way you’d like.
How many of us have found ourselves wishing for a few extra hours or an eighth day in the week, just so we could catch up on all the things we’d like to do. Where does the time go? Here are the Top 10 things we do with our time.
Buying your first home is a big step. Check out our top 7 tips to give you a boost onto the property ladder and help you save money on your first home!
A post secondary education is no longer a luxury. The best way to prepare for this probably inevitable part of your children’s young adult lives is to save. The very best way to save is through a registered education savings plan (RESP).
What if you lose your job and struggle to find another? What if you become ill and can’t work? Your good financial house can come crumbling down very quickly. When there’s suddenly no (or very little) money coming in, you can quickly obliterate your savings accounts and RRSPs. In this scenario you need to decide what kinds of insurance you need.
Generally, one member of the couple is responsible for the household finances. If you are not this person, now is the time to familiarize yourself. Do a little research. Heck, do a lot.
When you have kids, there’s so much more to do. Of course, you have to take care of them, and that sure takes up a lot of time. But also, you need to get certain financial arrangements in order to ensure they’ll be taken care of properly for a long time.