Save Taxes with a Spousal RRSP in 2022
Forget “Will you marry me?” How about “I want to open a spousal RRSP with you.” That is what true love looks like. No marriage certificate necessary. Nothing says commitment like combining your incomes and minimizing your overall tax bill. Keeping your financial house in order is a worthy endeavour that can pay off handsomely, […]
Four surprising advantages of RRSPs
We always hear a lot about RRSPs at the beginning of each new year. But what exactly is an RRSP? It stands for “registered retirement savings plan”, which means you can open a separate savings account with your bank, through a financial planner, a discount brokerage platform or a robo-advisor. An RRSP is very commonly […]
The Ultimate Guide to RRSP in Canada for 2023
What is the benefit of an RRSP in Canada when I can put my money elsewhere? Can I buy a house with my RRSP in Canada, in the US, or anywhere else? Can students open an RRSP account? Will this ultimate guide to RRSP in Canada answer these questions? First, I will answer all of […]
How to Invest in the Stock Market With a Small Amount?
There are several myths that surround stock market investing. One common assumption is that investing in equities is difficult for the average retail investor and the other is you need huge amounts of capital to get started. However, there are several ways for retail investors to start investing in stocks and they can begin with […]
All the secrets about RRSPs in just 3 minutes!
The Registered Retirement Savings Plan (RRSP) was created in 1957 and is the oldest of the registered accounts. In fact, you can deduct the amount you invest into an RRSP from your annual taxable income, up to 18% of the previous year’s income, or $26,010. Unused contributions can also be accumulated. However, when the money […]
What you need to know before investing in an RRSP
The RRSP deadline is fast approaching. In fact, there is no RRSP “season”, you can contribute to your RRSPs throughout the year, and the deadline for contributions to help you reduce your prior year’s tax bill is at midnight on March 1st. But before you run off to put some money into your RRSPs, let […]
What is a 401k in Canada?
Retirement planning can be daunting, especially considering the various plans available in different countries. Among the most popular retirement plans in the United States is the 401k. But what about Canada? Is there a Canadian equivalent to the 401k? While not an exact match, the Defined Contribution Plan is the closest resemblance to a 401k […]