Accounts

What is a Non Registered Savings Plan (NRSP) in Canada?

What is a Non Registered Savings Plan (NRSP) in Canada?

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.

What is the Lifelong Learning Plan (LLP) in Canada?

What is the Lifelong Learning Plan (LLP) in Canada?

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.

Registered Pension Plan (RPP) vs Registered Retirement Savings Plan (RRSP) in Canada

Registered Pension Plan (RPP) vs Registered Retirement Savings Plan (RRSP) in Canada

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.

Converting Your RRSP to a RRIF

Converting Your RRSP to a RRIF

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 Pooled Registered Pension Plan (PRPP) in Canada?

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

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

What is a Group RRSP or GRSP in Canada?

What is a Group RRSP or GRSP in Canada?

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

What is a Life Income Fund (LIF) in Canada?

What is a Life Income Fund (LIF) in Canada?

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 in Canada? Registered Retirement Income Fund

What is a RRIF in Canada? Registered Retirement Income Fund

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.

What is a 401k Equivalent in Canada?

What is a 401k Equivalent in Canada?

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 Explained

TFSA Withdrawal Rules Explained

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

What is an RESP and How Does It Work? Registered Education Savings Plan

What is an RESP and How Does It Work? Registered Education Savings Plan

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

7 TFSA Rules to Be Aware of in Canada

7 TFSA Rules to Be Aware of in Canada

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? Contributions and Withdrawal Rules Explained

What is a Spousal RRSP? Contributions and Withdrawal Rules Explained

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 and Taxes Explained

RRSP Withdrawal Rules and Taxes Explained

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

Best LIRA Accounts in Canada Locked In Retirement Account

Best LIRA Accounts in Canada Locked In Retirement Account

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.

What is a Self-Directed TFSA and How It Works

What is a Self-Directed TFSA and How It Works

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!

What is an RRSP? Registered Retirement Savings Plan

What is an RRSP? Registered Retirement Savings Plan

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.

What is the RRSP Contribution Limit in 2022?

What is the RRSP Contribution Limit in 2022?

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.

What is the RRSP Contribution Deadline?

What is the RRSP Contribution Deadline?

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 Limit for 2022

TFSA Contribution Limit for 2022

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

RSP vs RRSP: Differences Explained for Canadians

RSP vs RRSP: Differences Explained for Canadians

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: How to Choose Between the Two

TFSA vs RRSP: How to Choose Between the Two

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.

What is a Roth IRA Equivalent in Canada?

What is a Roth IRA Equivalent 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.