Social media has made financial advice more accessible than ever. With a quick scroll, you’ll find countless “finfluencers” sharing hot stock tips, investment strategies, and promises of financial freedom. But how much of this advice is reliable—and how much is leading investors into risky territory? The Canadian Investment Regulatory Organization (CIRO) warns that while some…
Ask the average Canadian what their most valuable asset is, and if you are a homeowner, you would likely say your principal residence. While that is likely true when it comes to something tangible you can buy or sell, it is far from your most valuable asset.Your ability to earn an income is your most…
-The main difference between TFSAs and RRSPs is access: you can invest in and withdraw from a TFSA with near total freedom, while an RRSP is much more limited.
-TFSAs have a lower contribution limit than RRSPs, however both have very specific contribution limits.
-A TFSA are more of an investment account than a traditional savings account.
-You can only contribute cash savings to an RRSP.
Contributions to RRSPs are tax-deductible.
-A TFSA is a great option if you think you may need access to the funds before you retire.
-You cannot (in most circumstances) invest or withdraw your RRSP funds until age 55
Contrary to misinformation being shared on-line, receiving a COVID-19 vaccine will have no effect on the ability to obtain coverage or benefits from life insurance or supplementary health insurance. Be aware of misinformation that is being spread through social media claiming that individuals who get the vaccine will not be able to get life insurance…
