Accounts

Non Registered Savings Plans (NRSP): What Are They Used For?

Non Registered Savings Plans (NRSP): What Are They Used For?

A Non-Registered Savings Plan (NRSP) is an account you can open to save and invest without the restrictions of a registered savings account. An NRSP is not registered with the CRA.

Lifelong Learning Plan (LLP): What Is It & Should I Use It?

Lifelong Learning Plan (LLP): What Is It & Should I Use It?

Through the Lifelong Learning Plan, you can withdraw up to $10,000 in a calendar year from your RRSP for a full-time training or education program.

RPP vs RRSP: Here’s the Main Difference

RPP vs RRSP: Here’s the Main Difference

The registered pension plan (RPP) and the registered retirement savings plan (RRSP) are accounts you can use to save for retirement. Here's what you should know about both plans.

RRIF vs RRSP: Considerations Before Converting

RRIF vs RRSP: Considerations Before Converting

The primary difference between a Registered Retirement Income Fund (RRIF) and a Registered Retirement Savings Plan (RRSP) is that you a RRSP is used to save and invest for retirement, whereas a RRIF is used to pay you periodic income in retirement.

What is a PRPP in Canada? (Pooled Registered Pension Plan)

What is a PRPP in Canada? (Pooled Registered Pension Plan)

Here's what a PRPP is and how can you use it to your advantage.

Group RRSPs: What They Are and How They Work

Group RRSPs: What They Are and How They Work

What are group RRSPs? Should I join a group RRSP? How does a group RRSP work? Your group RRSP questions are finally answered!

LIFs Explained & How Withdrawals Work

LIFs Explained & How Withdrawals Work

A Life Income Fund (LIF) is a registered income fund that provides money from your locked-in pension accounts in retirement.

What is a RRIF & When Should You Convert Your RRSP to a RRIF?

What is a RRIF & When Should You Convert Your RRSP to a RRIF?

A registered retirement income fund, also known as a RRIF, is a registered plan that you transfer funds from a registered retirement savings plan (RRSP) to, with the purpose of receiving periodic income in retirement.

401k Canada: Here’s the Equivalent for Canadians

401k Canada: Here’s the Equivalent for Canadians

The 401k is a tax-advantaged retirement savings plan that allows Americans to defer tax on income earned. Here's the Canadian Equivalent of a 401k.

TFSA Withdrawal Rules, Limits & Re-Contributions Explained

TFSA Withdrawal Rules, Limits & Re-Contributions Explained

The Tax-Free Savings Account (TFSA) withdrawal and re-contribution implications explained.

A Complete Guide to Registered Education Savings Plans (RESPs)

A Complete Guide to Registered Education Savings Plans (RESPs)

This guide provides information on what you need to know about the Registered Education Savings Plan (RESP) in Canada.

7 TFSA Rules That Everyone Should Know

7 TFSA Rules That Everyone Should Know

Wondering what you can and can't do with your TFSA? Read this guide to learn all about the various TFSA rules so you can make the most of your TFSA.

What Is A Spousal RRSP & Is It Right For You?

What Is A Spousal RRSP & Is It Right For You?

For couples, spousal RRSPs are one of the best ways to save for retirement. Both higher and lower wage earners can benefit from using spousal RRSPs.

RRSP Withdrawal Rules: A Complete Guide

RRSP Withdrawal Rules: A Complete Guide

Here's what you need to know if you're considering withdrawing from your RRSP early.

What is a Locked-In Retirement Account (LIRA) & How Does it Work?

What is a Locked-In Retirement Account (LIRA) & How Does it Work?

Locked-In Retirement Accounts are lesser-known retirement savings accounts. Not everyone can open one, and there are many rules on how they are used.

Self-Directed TFSA: Build & Manage Your Own Investment Portfolio

Self-Directed TFSA: Build & Manage Your Own Investment Portfolio

This article covers the basics of Self-Directed TFSAs, the value it brings, potential pitfalls, and how to get started with an account of your own!

Registered Retirement Savings Plan (RRSP) Guide for Canadians

Registered Retirement Savings Plan (RRSP) Guide for Canadians

Saving enough money for retirement can be a formidable task. Learn how an RRSP can accelerate your savings rate and slash your tax bill along the way.

RRSP Contribution and Deduction Limits For 2021

RRSP Contribution and Deduction Limits For 2021

Putting money into an RRSP is a great way to both lower your taxable income and save for retirement. Here are some details on RRSPs in Canada.

RRSP Deadline was March 1, 2022

RRSP Deadline was March 1, 2022

The RRSP deadline for the 2020 tax year was March 1st, 2021. That means you had until that deadline to contribute to your RRSP for the 2020 tax year.

TFSA Contribution Limits By Year

TFSA Contribution Limits By Year

Learn how you can stay within the rules and be as efficient as possible with your tax-free savings accounts.

RSP vs RRSP: A Simple Guide

RSP vs RRSP: A Simple Guide

Unsure about the difference between a RSP vs RRSP? Read this easy-to-follow guide and rid yourself of all confusion about retirement savings plans.

TFSA vs RRSP: Which is a Better Fit For Your Goals?

TFSA vs RRSP: Which is a Better Fit For Your Goals?

Two-thirds of Canadians hold either a TFSA or an RRSP, or both. Let’s look at what these accounts have to offer, and which best suits your particular needs.

Tax Free Savings Account (TFSA) Guide for Canadians

Tax Free Savings Account (TFSA) Guide for Canadians

In the world of Canadian personal finance, the Tax Free Savings Account (TFSA) is one of the most important tools that investors can use as a ‘tax shelter’ for their investments.

Can I Get a Roth IRA in Canada?

Can I Get a Roth IRA in Canada?

Roth IRA accounts are a great way to grow wealth. While only available to Americans, there is a very similar account type for Canadians as well.